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India Must Embrace Advanced Localization To Be Global Manufacturing Hub: Union Minister Mahendra Nath Pandey

Updated: Nov 23, 2023 04:31:06pm

India Must Embrace Advanced Localization To Be Global Manufacturing Hub: Union Minister Mahendra Nath Pandey

New Delhi, Nov 23 (KNN) Union Minister of Heavy Industries, Mahendra Nath Pandey on Wednesday stated that high standard and high tech localisation is necessary to become global suppliers.

Speaking at a discussion on ‘From Local to Global India – Manufacturing to Self-Reliance’, held by the Ministry of Heavy Industries (MHI) at Yashobhoomi Convention Center in Dwarka, the minister said, “Be it the PLI scheme launched by the Ministry to promote localization or schemes like the FAME scheme, India is moving forward at a fast pace towards a strong economy. Capital Goods Scheme and schemes being run to promote manufacturing, all have the same aim that we should manufacture international level products in the country and create employment for our youth”.

“Prime Minister had given the mantra of making local vocal and then making local-global, but for this, we will have to first become vocal for local, and then local to global (from local to global). This mantra will serve as an important link in the ‘Self-reliant India Campaign,” he added.

The event aimed to explore possibilities of localization, with key stakeholders including Union Minister Mahendra Nath Pandey, Secretary Kamran Rizvi, and senior MHI officers participating.

The Minister emphasized the mantra of “local to vocal, and then local to global” as a crucial link in the ‘Self-reliant India Campaign.’

“MHI has already taken various initiatives to curb imports and promote localization in the country. If our exports increase, it will lead to increased turnover and more employment opportunities in the country,” Rizvi said.

He added that emphatically that the goal of deep localization and development of new R&D facilities in the country can be achieved with the support and growth of the industries.

“Therefore, extensive consultations and discussions have been undertaken with various industry representatives to understand the reasons for imports in various tariff lines formulate policies for the reduction of imports, and devise strategies to promote exports,” Rizvi said.

During the event, the Union Minister also launched the new Ministry of Heavy Industries website.

(KNN Bureau)


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