NEW DELHI: Prime Minister Narendra Modi on Friday highlighted hard work to make India’s manufacturing industry globally competitive and said government thinking is “minimum government, maximum governance” .
Addressing a webinar on the Video Conferencing Production Incentive Program, the Prime Minister said successful efforts have been made to encourage the “Make in India” initiative over the past 6-7 years.
“Manufacturing transforms all aspects of the economy, creating an ecosystem. Increasing manufacturing capacity increases job creation. We have examples around the world where countries have accelerated the development of the country by increasing their capacities. manufacturing, “said the Prime Minister.
“India wants to work with the same approach. So our government has brought reform after reform in this sector. Our policy and strategy are clear from all points of view. Our thinking is: ‘minimum government, maximum governance “. zero effect, zero defect,” he added.
Speaking further, the Prime Minister said: “We must work hard to make manufacturing in India competitive on a global scale. Our production costs, quality and efficiency of our products must leave a mark on the world. global market and we must work together to make this possible. Our products must be user-friendly, the most modern, the most affordable and the most sustainable. ”
We believe that government interference in everything creates more problems than solutions. This is why we are emphasizing self-regulation, self-attestation and self-certification, he said.
Affirming the need for effective engagement of all development stakeholders, Prime Minister Modi said that the country’s budget and policy making should not remain a government process.
“The Union’s budget and the development of the policies of the country should not be limited to a governmental process. Every stakeholder associated with the development of the country should participate effectively,” he said.
“We need to take big steps and increase our speed and scale (in manufacturing). After the experience of Covid last year, I am convinced that this is India’s responsibility and not just an opportunity to move quickly in this direction. segment of the economy, ”he said.
“If the production-related incentives relate to one sector, they will benefit the entire ecosystem associated with that sector. From production-related incentives in automobiles and pharmaceuticals, there will be much less foreign dependence on auto parts, medical equipment and drug raw materials, “the prime minister said.
The prime minister said the energy sector will be modernized in the country using advanced cell batteries, solar PV modules and steel. Likewise, our production-related incentives will benefit the entire agricultural sector of the textile and food processing sector, he said.
“This year, we are trying to reduce over 6,000 state and central level compliances. Your suggestions and advice are invaluable in this relationship. With technology, we need to reduce these compliances,” he said. declared.
“In the past, industrial incentives were in the form of an indefinite input-based subsidy. Now it has been transformed into a focused, performance-based competitive process,” he added.
Addressing a webinar on the Video Conferencing Production Incentive Program, the Prime Minister said successful efforts have been made to encourage the “Make in India” initiative over the past 6-7 years.
“Manufacturing transforms all aspects of the economy, creating an ecosystem. Increasing manufacturing capacity increases job creation. We have examples around the world where countries have accelerated the development of the country by increasing their capacities. manufacturing, “said the Prime Minister.
“India wants to work with the same approach. So our government has brought reform after reform in this sector. Our policy and strategy are clear from all points of view. Our thinking is: ‘minimum government, maximum governance “. zero effect, zero defect,” he added.
Speaking further, the Prime Minister said: “We must work hard to make manufacturing in India competitive on a global scale. Our production costs, quality and efficiency of our products must leave a mark on the world. global market and we must work together to make this possible. Our products must be user-friendly, the most modern, the most affordable and the most sustainable. ”
We believe that government interference in everything creates more problems than solutions. This is why we are emphasizing self-regulation, self-attestation and self-certification, he said.
Affirming the need for effective engagement of all development stakeholders, Prime Minister Modi said that the country’s budget and policy making should not remain a government process.
“The Union’s budget and the development of the policies of the country should not be limited to a governmental process. Every stakeholder associated with the development of the country should participate effectively,” he said.
“We need to take big steps and increase our speed and scale (in manufacturing). After the experience of Covid last year, I am convinced that this is India’s responsibility and not just an opportunity to move quickly in this direction. segment of the economy, ”he said.
“If the production-related incentives relate to one sector, they will benefit the entire ecosystem associated with that sector. From production-related incentives in automobiles and pharmaceuticals, there will be much less foreign dependence on auto parts, medical equipment and drug raw materials, “the prime minister said.
The prime minister said the energy sector will be modernized in the country using advanced cell batteries, solar PV modules and steel. Likewise, our production-related incentives will benefit the entire agricultural sector of the textile and food processing sector, he said.
“This year, we are trying to reduce over 6,000 state and central level compliances. Your suggestions and advice are invaluable in this relationship. With technology, we need to reduce these compliances,” he said. declared.
“In the past, industrial incentives were in the form of an indefinite input-based subsidy. Now it has been transformed into a focused, performance-based competitive process,” he added.