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'Need to move beyond raw material exporting, push manufacturing'
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SME Times News Bureau | 04 Oct, 2020
Union minister Piyush Goyal has said that India needs to move beyond
exporting raw materials and improve its manufacturing capabilities to
supply high-quality products to the world.
He said that
'Aatmanirbhar Bharat' effectively is all about building Indian
capabilities, quality, scale, implementing good manufacturing practices,
bringing best of technologies along with improving the standards that
Indians expect in India.
Goyal said in a video posted on his
Twitter handle that India will have to identify areas in which it can
excel and become a major global supplier.
"We will have to
identify areas where sensible policies can help us get there. As the
Prime Minister said on August 15, look at areas where we need to create
value...where we can go beyond exporting raw materials," the minister
said.
Elucidating his stress on exporting more of finished
products compared to raw materials he said that China's production of
steel is way higher than India and it imports iron ore from India,
although it has its own reserves.
"India at 100 million tonnes of
steel, China at 800 million tonnes of steel and even then I think we
are the second largest manufacturer. Look at the gap and we are
exporting iron ore to China," he said.
"I am told China has iron ore but they are conserving it. Can we think of some smart options?"
He
also said India can provide a "true partnership" to the world in terms
of supplies and make the global supply chain more resilient and
foolproof.
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