World needs supply chains that could function uninterrupted by crisis: Modi
The Hindu
Prime Minister Modi emphasizes India's role in global supply chains, promoting self-reliance and manufacturing growth at Rajasthan summit.
Prine Minister Narendra Modi on Monday (December 9, 2024), in the context of continuing challenges related to global supply and value chain, said the world needed a system which would function unhindered and uninterrupted even during the biggest crisis.
“For this it is imperative to have a large manufacturing base in India which is not only necessary for India, but also for the world economy,” he said while addressing delegates at the Rising Rajasthan Global Investment Summit in Jaipur.
He said that India had taken a pledge of self-reliance in manufacturing, understanding this responsibility.
“India is putting emphasis on low-cost manufacturing under the Make in India program and India’s petroleum products, medicines and vaccines, electronics goods and the record manufacturing has benefited the world,” he emphasised.
Mr. Modi pointed to the increase in update by electronics, specialty steel, automobiles and auto components, solar PVs and pharmaceuticals among the sectors avidly seeking support from the production-linked incentive (PLI) schemes.
“The PLI Scheme has led to an investment of about ₹1.25 lakh crore. Products worth about ₹11 lakh crore had being made and exports have increased by ₹4 lakh crore,” Mr. Modi said.
The Prime Minister said Rajasthan was among the top five states in terms of the number of micro small and medium enterprises in India.