Along with celebrating the 75th festival of independence, Azadi ka Mahotsav
is an opportunity to build a clear vision and roadmap for future India: PM
In the world that is shrinking due to physical, technological and financial
connectivity, new possibilities are being created around the world for the
expansion of our exports: PM
Considering the size of our economy and potential, our manufacturing and
service industry base, there is tremendous potential for export growth: PM
Production Linked Incentive Scheme will not only help in increasing the
scale of our manufacturing but also increase the level of global quality
and efficiency: PM
Decision taken by India to get rid of retrospective taxation shows our
commitment, shows consistency in policies and gives a clear message to all
the investors that India is not only opening the doors of new possibilities
but the decisive Government of India, has the will to fulfill its promises:
PM
Central government is working closely with the states to minimize the
regulatory burden: PM
Healthy competition is being promoted between the states to make export
hubs in the states: PM
We have to find new destinations and push new products. Can we have
futuristic strategies for new sectors?
In a first of its kind initiative, the Prime Minister Shri Narendra
Modi interacted with Heads of Indian Missions abroad and stakeholders
of the trade & commerce sector via video conference. The Union
Commerce Minister and External Affairs Minister were also present
during the interaction. The interaction also witnessed participation of
Secretaries of more than twenty departments, state government
officials, members of Export Promotion Councils and Chambers of
Commerce.
Addressing the gathering, the Prime Minister said that this is the time
for Azadi ka Amrit Mahotsav. Along with celebrating the 75th festival
of independence, this is an opportunity to build a clear vision and
roadmap for future India. In this, our Export Ambitions and all the
stakeholders play a major role. He added that today the world is
shrinking every day due to physical, technological and financial
connectivity. In such an environment, new possibilities are being
created around the world for the expansion of our exports. He lauded
the stakeholders for this initiative and commended the enthusiasm,
optimism and commitment shown by all of them to achieve our ambitious
goals regarding exports. He reminded that one of the major reasons,
India had the highest share in the global economy in the past was it’s
strong trade and exports. He stressed on the importance of
strengthening our exports in regaining our old share in the global
economy.
The Prime Minister urged the stakeholders to put all their efforts to
take advantage of the new opportunities created by the changes in the
Global Supply Chain in the Post Covid Global World. Considering the
size of our economy and potential, our manufacturing and service
industry base, there is tremendous potential for export growth. He
added that when the country is moving towards the mission of
Atmanirbhar Bharat, one of its goals is to increase India's share in
exports manifold. He said that to achieve this we have to make sure
that we get access to the global supply chain, so that our business can
scale and grow. He added that our industry will also have to move
towards the best technology, focus on innovation and increase share in
R&D. He said our share in the Global Value Chain will grow only by
following this path. While encouraging competition and excellence, we
have to prepare global champions in every sector, he stressed.
The Prime Minister listed four factors that are very important for
increasing exports. Manufacturing in the country has increased manifold
and that has to be qualitatively competitive. Second, The problems of
transport, logistics should be removed for that centre, states and
private stakeholders will have to work continuously. Third, The
government should walk shoulder to shoulder with the exporters and,
finally, the international market for Indian products needs to be
expanded . He said only when these four factors are synergized, India
will be able to achieve the goal of Make in India for the world in a
better way.
The Prime Minister said today, the government in the country, in the
states is moving forward, understanding the needs of the business
world. He listed the initiatives of the Government to boost MSMEs like
many relaxations given in compliances under Atmanirbhar Bharat Abhiyan
and provision of Emergency Credit Line Guarantee Scheme of Rs 3 lakh
crore. He also noted that the Production Linked Incentive Scheme will
not only help in increasing the scale of our manufacturing but also
increase the level of global quality and efficiency. This will develop
a new ecosystem of Atmanirbhar Bharat. The country will get new Global
Champions in Manufacturing and Export. He elaborated how Production
Linked Incentives helped to strengthen the mobile phone manufacturing
sector. The mobile phone sector, we are also experiencing its impact. 7
years ago, we used to import mobile phones worth about $ 8 billion.
Now, it has come down to $2 billion. 7 years ago, India used to export
mobile phones worth only $ 0.3 billion. Now it has increased to more
than 3 billion dollars.
The Prime Minister said the government, both at centre and states are
also focussing to reduce the time and cost of logistics in the country.
For this, work is going on at a rapid pace in every level to create a
multimodal connectivity.
The Prime Minister said continuous efforts are being made by the
government to minimize the impact of Pandemic. It is our best effort to
keep the virus infection under control. The work of vaccination is
going on at a fast pace in the country today. Every possible step has
been taken to solve all the problems of the countrymen and the
industry. He added that our industry and business has also innovated
during this period, by adapting itself to new challenges. The industry
also helped the country deal with the medical emergency and also played
a role in reviving growth. This is the reason that today along with
drugs and pharmaceuticals, our exports have reached a new level in
sectors like agriculture. He said today we are seeing positive signs
not only of recovery in the economy but also about high growth.
Therefore, this is a good time to set high targets for exports and
achieve them. He said the Government is taking necessary steps at every
level to achieve this. Recently, he said the Government has taken a
major decision for our exporters to get a boost of about Rs 88000 crore
rupees in the form of insurance cover. Similarly by rationalizing our
export incentives our exports would be WTO compliant and will also get
a boost.
The Prime Minister stressed on the importance of stability in doing
business. He said the decision taken by India to get rid of
retrospective taxation shows our commitment, shows consistency in
policies and gives a clear message to all the investors that India is
not only opening the doors of new possibilities but the decisive
Government of India, has the will to fulfill its promises.
The Prime Minister stressed on the role of states in achieving the
export targets and implementing reforms, attracting investment, easing
of doing business and creating last mile infrastructure. He said the
central government is working closely with the states to minimize the
regulatory burden so as to increase export and investment. He said a
healthy competition is being promoted between the states to make export
hubs in the states. States are being encouraged to focus on one product
in each district.
The Prime Minister said our ambitious target regarding exports can be
achieved only through a holistic and detailed action plan. He urged the
stakeholders to accelerate our existing exports and also work to create
markets, new destinations for new products. At present, almost half of
our exports are to only 4 major destinations. Similarly, about 60
percent of our exports are related to Engineering Goods, Gems and
Jewellery, Petroleum and Chemical Products and Pharmaceuticals. He
urged them to find new destinations and also take our new products to
the world. He added that with the opening of sectors like Mining, Coal,
Defense, Railways, our entrepreneurs are also getting new opportunities
to increase exports.
The Prime Minister said to the Ambassadors, officials from the Ministry
of External Affairs that in whichever country they are representing
India, they understand the needs of that country very well. He asked
them to act as a bridge for the commerce industry here. He urged that
India Houses present in different countries should also be
representative of the manufacturing power of India. He requested the
Ministry of Commerce to put in place such a system so that there is a
constant communication between our exporters and our missions.
The Prime Minister said for maximum benefit to our economy from our
exports, we have to build a seamless and high quality supply chain
within the country as well. For this we need to build a new
relationship and a new partnership. He requested all Exporters to
strengthen partnership with our MSMEs, farmers and our fishermen,
promote our Startups and support them.
The Prime Minister gave a call to establish a new identity of Quality
and Reliability. He said it is our endeavor to create a natural demand
for high value-added products of India in every nook and corner of the
world. He assured the industry, all the exporters that the government
will support them in every way. He urged the industry to prove the
resolve of Atmanirbhar Bharat and a prosperous India!
Union External Affairs Minister Shri S. Jaishankar highlighted the
unique character of the event. He said that while the theme of the
event is local goes global, the Indian Missions also need to be
globally local to help connect our producers with the demand in
specific countries. Union Commerce Minister Shri Piyush Goyal said that
the global environment is favourable and we should look at leveraging
comparative and competitive advantages with respect to other countries
for increasing our exports.
Heads of Indian Missions gave their inputs and suggestions to increase
India’s exports. They talked about setting sector and region specific
trade targets, the need to focus on value addition, quality standards
of products, supply chain diversification, ensuring reliability in
supplies and improving connectivity. They said that there is a need to
focus on new markets and region specific products, while at the same
time, maintaining our competitive edge in the regions and products
where we are doing well currently.
New Delhi
August 06, 2021
