To boost \u2018self-reliant India\u2019 endeavour, Union Minister Nitin Gadkari on August 8 urged the industry to identify the sectors heavily reliant on imports, particularly from China, and look for substitutes towards indigenous production to make India a super power.<\/p>\n
Asserting that a case study is in the offing based on three years of imports and exports, Mr. Gadkari said China\u2019s 70% of exports pertained to ten sectors that included electrical machinery and equipment accounting for 26.09% of its exports worth $671 billion and machinery including computers grabbing 10.70% of its exports worth $417 billion.<\/p>\n
Road Transport, Highways and MSME Minister Mr. Gadkari while addressing a CII event \u201cIndia@75 Summit \u2014 Mission 2022\u201d urged the industry to look beyond metropolises and developed cities to lay a network of industries and ventures in rural, far-flung and tribal areas which never grabbed attention.<\/p>\n
\u201cIt pains me that 90% of the focus of industry bodies is on major industries in big cities and metropolises. There is seldom any focus on rural, tribal and remote areas. There is a need to change it… Advance sector wise planning is the need of the hour to make India a super power,\u201d Mr. Gadkari said.<\/p>\n
\u201cChina\u2019s 70% of exports are from 10 sectors,\u201d Mr. Gadkari said and urged CII to identify what was imported in India and how can that be replaced with indigenous production for \u2018self-reliance\u2019 while assuring all government support in this initiative.<\/p>\n
He said of the China\u2019s exports, apart from machinery and equipment, furniture and related things accounted for exports worth $100 billion, plastics products ($84 billion), vehicles (74.40 billion) and clothings ($66.80 billion).<\/p>\n
\u201cCII should identify sectors to boost exports and reduce imports. In some areas we will have to increase import duty to encourage Indian manufacturers,\u201d he said.<\/p>\n
Assuring all possible help to the industry for making rural and tribal areas their hub, the minister said a wide network of highways, railways and waterways was bound to bring down logistics cost.<\/p>\n
He also said that a host of initiatives including redefining the definition of MSMEs will yield rich dividends.<\/p>\n
The minister informed that the government is working on a scheme for inclusion of smallest units under the MSME ambit and providing for their micro-financial requirements.<\/p>\n
He also stressed the need for upgradation of technology by industry players and urged them to explore joint ventures to bring in foreign low cost capital.<\/p>\n
In addition, he urged the industry to come up with the list of obsolete legislations hindering their growth so that steps could be taken to facilitate new ventures besides.<\/p>\n
\u201cThere is an urgent need to create employment, and focussing on rural, agriculture, tribal and village areas including 115 aspirational districts could be beneficial. The target is to shift about 7-8% of population from overcrowded cities to upcoming smart cities and villages,\u201d the Minister said.<\/p>\n
He exhorted the industry to explore investment opportunities on the sides of proposed 22 new expressways.<\/p>\n
He also asked the industry body CII to draft a proposal for insurance of highway stretches, saying this will do away the requirement of bank guarantees.<\/p>\n
\u201cThis will speed up financial closure of road projects and finance raising, facilitating faster project completions,\u201d he said.<\/p>\n
The Minister also said that he was in discussion with Uttarakhand government for developing Auli, a famous tourist destination, into a world-class place so that it becomes a venue for events like the World Economic Forum that takes place in Davos, Switzerland.<\/p>\n<\/div>\n