On the eve of 74th Independence Day, Prime Minister Narendra Modi called for the Indian industry to take the ‘Make in India’ movement to the next level and turn it into a ‘Make for the World’ initiative. Addressing the nation from the Red Fort, he underscored the need for India to harness its natural resources to the maximum potential to not just become self-reliant but also to export its products to nations all over the world. Redefining the goal of ‘Atmanirbhar Bharat’, he added that the nation is gearing up to achieve the goal.
"I am confident that India will realise this dream. I am confident of the abilities, confidence and potential of my fellow Indians. Once we decide to do something, we do not rest till we achieve that goal," he said.
Citing the inflow of Foreign Direct Investment (FDI) as a motivation to keep the industrial engine humming, the prime minister said the country has received record FDI in the last fiscal year and even during the pandemic. The increase in FDI was recorded at 18 percent in the last fiscal.
Emphasizing the need to go Vocal for Local, Modi added that India has for long been exporting raw materials and importing finished products, and that it is time for the country to become the exporter of finished goods to the world. "Now we have to move ahead with the mantra of make for the world along with Make-in-India," he said.
Union Minister of MSMEs, Nitin Gadkari had also pointed out similar concerns on Friday while interacting with MSME member organizations saying that India has the potential to become the alternative for importers across the world and industry leaders should strive to work towards achieving that goal. Gadkari exhorted industry bodies like FICCI to zero in on the sectors that are dependent on imports to a large extent, especially from China. He said once we have identified those sectors, we can start building our capabilities in those segments and prepare a road map for indigenous production for those sectors.
Calling the current situation a blessing in disguise for the industry, he added that 70 percent of China’s exports are aimed at 10 sectors and asked the industry leaders to come up with lists of industries wherein India can hit the ground running and start indigenous production for export.