Prime Minister NarendraMomdi said that the budget has many significant provisions for Aatmnirbhar Bharat and Make in India. He said that it is not acceptable that a country like India ends up merely as a market. He pointed towards supply chain disruptions during the pandemic and other uncertainties to underline the critical importance of Make in India.
He addressed post-budget webinar organized by The Department for Promotion of Industry and Internal Trade (DPIIT). This is eighth post-budget webinar addressed by the Prime Minister. Theme of the webinar was ‘Make in India for the World’.
On the other hand, the Prime Minister continued, positive factors like demographic dividend of young and talented population, democratic set up, natural resources should also encourage us to move towards Make in India with determination.
He also referred to his call for zero defect-zero effect manufacturing that he gave for the ramparts of Red Fort. Aatmnirbharta is all the more important if we see from the prism of national security, he said.
Modi said, that the world is looking at India as a manufacturing powerhouse. Manufacturing, he said, is the 15 per cent of India’s GDP, but there are infinite possibilities before Make in India and we should work with full strength to create a robust manufacturing base in India, he said.
The Prime Minister gave the examples of new demand and opportunities in sectors like semi-conductors and Electric Vehicles where manufacturers should move with a sense of removing dependencies on foreign sources. Similarly, areas like steel and medical equipment need to be focussed for indigenous manufacturing, he said.
The Prime Minister stressed the difference between availability of a product as opposed to availability of made in India product in the market. He reiterated his dismay that many of the supplies for India’s various festivals are seeing foreign providers whereas they have been and can be easily provided by local manufacturers.
He also emphasized that ambit of ‘Vocal for Local’ goes well beyond buying ‘diyas’ on Diwali. He asked the private sector to push the factors of vocal for local and Aatmnirbhar Bharat in their marketing and branding efforts. “Take pride in the products your company makes and instil this sense of pride in your Indian customers as well. For this some common branding can also be considered”, he added.
He exhorted the private sector to enhance spending on R&D and to diversify and upgrade their product portfolio. Referring to declaration of 2023 as International Year of Millets, the Prime Minister said “The demand for millets is increasing in the world. By studying the world markets, we should prepare our mills in advance for maximum production and packaging.”
The Prime Minister mentioned new possibilities due to opening up of areas like mining, coal and defence, the Prime Minister asked the participants to prepare a new strategy. “You will have to maintain global standards and you will also have to compete globally”, he said.
This budget has given significant importance of MSME through credit facilitation and technology upgradation. The government has also announced a RAMP program of Rs 6,000 crore for MSMEs. The budget has also focused on developing new railway logistics products for farmers, for large industries and MSMEs, he added.
