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India does not need to import from China, said Nitin Gadkari at Horasis Asia 2020

Virtually addressing the 2020 Horasis Asia Meeting, Union Minister Nitin Gadkari said that "...we have already found the solutions. Now we don't need to import from China,"

Speaking at Horasis Asia 2020, Union Minister Nitin Gadkari on Monday said India does not need to import from China
Speaking at Horasis Asia 2020, Union Minister Nitin Gadkari on Monday said India does not need to import from China
  • Union Minister Nitin Gadkari on Monday said India does not need to import from China

  • "Already in the automobile sector, in many sectors now, in agriculture, automobiles, everywhere, we have already found the solutions. Now we don't need to import from China," Gadkari said virtually addressing the 2020 Horasis Asia

New Delhi: "Already in the automobile sector, in many sectors now, in agriculture, automobiles, everywhere, we have already found the solutions. Now we don't need to import from China," said Union Minister Nitin Gadkari on Monday. He was addressing the 2020 Horasis Asia virtual meeting. In his address, Gadkari highlighted the role of MSMEs in enhancing exports and helping the country achieve self-reliance. He observed that India was exporting a lot of items instead of importing them.

"I don't want to talk anything much about China and other things because every country has their own policies, but as far as Indian policies are concerned, the way in which we are accepting technology, reducing cost and making good quality (products), our strength is the young talented manpower which is available in India," Gadkari said. The minister said at the same time, our IITs (Indian Institutes of Technology), engineering colleges and research centres are doing a lot of innovation, expressing confidence that this will help India fulfil the requirement of the whole world.

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The Minister for Micro, Small and Medium Enterprises and Road Transport & Highways said that currently, the majority of countries are not interested to deal with China, they are rather interested in India. He said such a situation is advantageous for the country's manufacturing sector to ramp up its capabilities to boost exports from India. "We have already reduced our imports from China and already our (India's) exports are increasing. The trends are positive and I am expecting good results in this field," said the minister. He said the MSMEs are doing an excellent job despite facing an economic crisis.

He said disbursement of loans to the tune of Rs 1.48 lakh crore has been completed so far, out of the Rs 3 lakh crore worth of collateral-free automatic loans for businesses announced by the Centre earlier. Eligible borrowers for the scheme include MSME units, business enterprises, individual loans for business purposes and MUDRA borrowers.

Talking about schemes for the MSME sector, he said, "We have sanctioned some 93 schemes and more than 100 schemes are in the pipeline. We want to clear them as early as possible." He said efforts are underway for reducing India's dependence on import of items such as crude oil.

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The minister said emerging areas where MSMEs can work include artificial intelligence, robotics, sustainability, green manufacturing, waste to wealth, development of smart villages, e-mobility, and virtual reality-based solutions. Gadkari said the MSME ministry is working on setting up a number of centres of excellence in collaboration with educational and research institutions like IITs and NITs. Pointing out that the current annual turnover of the khadi and village industries stands at Rs 80,000 crore, he said the plan is to increase this to Rs 5 lakh crore in two years.

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