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New Delhi : In a first of its kind initiative, Prime Minister Narendra Modi interacted with Heads of Indian Missions abroad and stakeholders of the trade and commerce sector via video conference. 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.He said 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 its strong trade and exports.
Modi 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 World. Considering the size of our economy and potential, our manufacturing and service industry base, there is tremendous potential for export growth, the PM said. 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.
The PM 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 synergised, India will be able to achieve the goal of Make in India for the world in a better way.
Modi 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 strengthen the mobile phone manufacturing sector. The mobile phone sector, we are also experiencing its impact. Seven years ago, we used to import mobile phones worth about $ 8 billion. Now, it has come down to $2 billion. Seven years ago, India used to export mobile phones worth only $ 0.3 billion. Now it has increased to more than 3 billion dollars, the PM said, according to a PIB release.
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 PM said continuous efforts are being made by the government to minimise 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. 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 88,000 crore in the form of insurance cover. Similarly by rationalising our export incentives, our exports would be WTO compliant and will also get a boost.
The PM 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.