Saturday, June 25, 2022

Aatmanirbhar Bharat doesn’t mean self-isolation, but integration into global value chains: Kant

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  • Manufacturing will lead India’s exports by 2025 in key sectors, including mobile, electronics, pharma, textiles, engineering products etc, said Kant

  • The government has initiated many steps to position India as a truly global manufacturing hub with strong focus on exports, he said

New Delhi: Aatmanirbhar Bharat does not mean self-isolation but a very deep integration into the global value chains, using the domestic manufacturing strengths of India to become a leading exporter globally, said NITI Aayog CEO Amitabh Kant. Addressing the East Asia Session — Reimagining Global Value Chains on Tuesday during the 4-day ‘FICCI LEADS 2020,’ Kant said, “Manufacturing will lead India’s exports by 2025 in key sectors, including mobile, electronics, pharma, textiles, engineering products etc. We are keen on creating global manufacturing champions in sectors of strength.”

He stated that while the pandemic has affected the global value chains, India must turn this crisis into opportunities. “Countries and companies are re-evaluating their trade and manufacturing strategies which can serve as new avenues for growth in India considering the inherent competitive advantages which the country possesses. The only truly comprehensive alternative for this rapidly changing supply chain environment is India,” said Kant.

‘Govt has initiated steps to position India as global manufacturing hub’

He added that India has capabilities to produce export-ready goods and provide large consumption market through its domestic needs. “The government has initiated many steps to position India as a truly global manufacturing hub with strong focus on exports,” he said.

Kant stressed that digital transformation will drive India’s manufacturing sector forward with the help of technologies like AI, Cloud computing, IoT, Block chains and robotics. “In order to take its rightful place in the global supply chains, India is leveraging these technologies and applying them across the manufacturing value chains to gain competitiveness. Data will be critical to meet these goals,” he said. 

Kant said that more and more innovations will further drive the large amount of data which India has. “As we move from becoming data rich to data intelligent, one would see more and more innovations. Innovations and continued investments in R&D will be required to make advanced manufacturing in India,” he said.  

‘Production-linked incentives on anvil for pharma, auto, cell battery storage’

Elaborating on the steps to attract more investments in India, Kant said the government announced Production Linked Incentive (PLI) scheme will help the industry in a big way. “The $7 billion worth PLI scheme for mobile and electronics will have a strong multiplier impact on direct and indirect jobs. 22 domestic and international firms have submitted their proposals for mobile phones production worth Rs 11 lakh crore over the next 5 years,” he added.

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Kant also said that similar schemes have been launched in pharma, medical devices, and soon will be finalised for automobiles, networking products, food processing, advanced chemistry, cell battery storage and solar PV manufacturing. 

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