NEW DELHI: Prime Minister Narendra Modi on Thursday called for a change in economic thinking — from command and control to plug-and-play — while urging the private sector to participate in the Atmanirbhar Bharat Abhiyan and turn the Covid-19 crisis into an opportunity.
“It is time for bold decisions and bold investments, and not for conservative approaches. This also is the time to move from command and control economy to plug-and-play and to build a competitive global supply chain,” the PM said in his address to members of the Indian Chamber of Commerce.
The government has launched a campaign for self-reliance and is pushing import substitution and domestic production in several crucial sectors, such as electronics and pharmaceuticals, and has called upon Indian industry to be part of the global supply chain. The strategy drawn by the government also seeks to get global investors looking to reshore out of China to invest in India.
“India is fighting multiple challenges along with Covid-19, including floods, locust attack, earthquakes… We have to turn crises into opportunity for creating an Atmanirbhar Bharat and take steps to ensure that products which we import from elsewhere are manufactured in India,” Modi said, adding that it was time to make each village and district of the country self-reliant.
He called upon industry leaders to work towards making India an exporter of all products which it is currently forced to import and suggested mass-scale production, pointing to the experience with LED bulb manufacturing, which helped cut costs.
“Government schemes are focused on people, planet and profit,” he said, arguing that the three could co-exist.
Citing the campaign to free the country from single use plastic, Modi said it will benefit West Bengal by giving a fresh impetus to the jute industry. He said the time had come to revive Bengal’s historical pre-eminence in manufacturing.
Modi said banking services had now reached the “have nots”. Initiatives such as Jan Dhan accounts and Aadhaar have made it possible to reach necessary support to millions of people without leakage, he added.
Referring to the efforts to develop the north-east as a hub of organic farming, Modi said the government’s cluster-based approach to local produce would provide opportunity for all.
Along with this, clusters would also be created for bamboo and organic products. Like Sikkim, the entire north- east could become a huge hub of organic farming, he said. Organic farming could become a huge movement in the north-east and dominate the global market, he added.
“It is time for bold decisions and bold investments, and not for conservative approaches. This also is the time to move from command and control economy to plug-and-play and to build a competitive global supply chain,” the PM said in his address to members of the Indian Chamber of Commerce.
The government has launched a campaign for self-reliance and is pushing import substitution and domestic production in several crucial sectors, such as electronics and pharmaceuticals, and has called upon Indian industry to be part of the global supply chain. The strategy drawn by the government also seeks to get global investors looking to reshore out of China to invest in India.
“India is fighting multiple challenges along with Covid-19, including floods, locust attack, earthquakes… We have to turn crises into opportunity for creating an Atmanirbhar Bharat and take steps to ensure that products which we import from elsewhere are manufactured in India,” Modi said, adding that it was time to make each village and district of the country self-reliant.
He called upon industry leaders to work towards making India an exporter of all products which it is currently forced to import and suggested mass-scale production, pointing to the experience with LED bulb manufacturing, which helped cut costs.
“Government schemes are focused on people, planet and profit,” he said, arguing that the three could co-exist.
Citing the campaign to free the country from single use plastic, Modi said it will benefit West Bengal by giving a fresh impetus to the jute industry. He said the time had come to revive Bengal’s historical pre-eminence in manufacturing.
Modi said banking services had now reached the “have nots”. Initiatives such as Jan Dhan accounts and Aadhaar have made it possible to reach necessary support to millions of people without leakage, he added.
Referring to the efforts to develop the north-east as a hub of organic farming, Modi said the government’s cluster-based approach to local produce would provide opportunity for all.
Along with this, clusters would also be created for bamboo and organic products. Like Sikkim, the entire north- east could become a huge hub of organic farming, he said. Organic farming could become a huge movement in the north-east and dominate the global market, he added.
