Amitabh Kant: Govt engaged on a number of fronts to position India as international manufacturing hub | India Business News

NEW DELHI: The authorities has been engaged on a number of fronts to place India as a really international manufacturing hub with a robust deal with exports, Niti Aayog CEO Amitabh Kant mentioned on Tuesday.
Kant, whereas addressing a digital FICCI occasion, additional mentioned the federal government is finalising its plans to broaden its production-linked incentive (PLI) scheme to extra sectors for reinforcing domestic manufacturing. “The government of India has been working on multiple fronts to position India as a truly global manufacturing hub with a strong focus on exports … Aatmanirbhar Bharat does not mean self-isolation but a very deep integration into the global value chains and using the manufacturing strength of India to become a leading exporter globally,” he mentioned.
Kant famous that funding and innovation will drive manufacturing in India. “Both countries and companies are reevaluating their trade and manufacturing strategies which can serve as new avenues of growth in India,” he mentioned. Kant identified that the PLI scheme for cell and select electronics could have multiplier influence for each direct and oblique job.
“As many as 22 domestic and international manufacturing firms including iPhone maker Apple’s contract manufacturers as well as Samsung, Lava, Dixon have given proposals for mobile phone production worth Rs 11 lakh crore over the next five years.
“And taking cell manufacturing as a template, related schemes have been launched in pharmaceutical, medical units and now we’re finalising schemes for car, networking merchandise, meals processing, superior chemistry and photo voltaic PV manufacturing,” the Niti Aayog CEO said.
The government has notified PLI scheme for large scale electronics manufacturing, the scheme for promotion of manufacturing of electronic components and semiconductors, and the modified electronics manufacturing clusters (EMC 2.0) scheme.
Kant said India is keen on creating truly global manufacturing champions in sectors of strength through benchmarking, cost disabilities against other manufacturing hubs and developing a bespoke strategy for each sector. “Manufacturing will lead India’s export targets by 2025 in key sectors, together with cell, electronics, pharmaceutical, textiles, engineering merchandise, and many others,” he mentioned.
Noting that knowledge have to be reworked into actionable insights to create worth for governments and companies, Kant mentioned applied sciences resembling artificial intelligence and augmented actuality needs to be used as digital means to coach individuals.

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