India soon to become a manufacturing hub, says Prime Minister Mr. Narendra Modi

Prime Minister Mr. Narendra Modi emphasized the need for India to enhance the quality of its products and services to meet international standards during his Independence Day address. He highlighted the importance of focusing on "design in India, design for the world," urging efforts to ensure that Indian standards align with global benchmarks. Mr. Modi expressed confidence that achieving this alignment would facilitate easier approval of Indian products. He asserted that the vision of India becoming a global manufacturing hub is within reach. Additionally, he mentioned the government's successful US$ 23.67 billion (Rs 1.97 trillion) production-linked incentive (PLI) scheme, which aims to transform India into a manufacturing powerhouse, reduce import dependence, and generate employment opportunities.

He stated that government policies have enabled India to establish an ecosystem for mobile phone manufacturing, allowing for exports rather than reliance on imports, a trend that has also been observed in the toy industry. He noted that foreign direct investment (FDI) reforms have significantly strengthened the economy, providing a substantial boost to micro, small, and medium enterprises (MSMEs). This has led to the development of a new system that positions India's manufacturing sector as a global hub. Mr. Modi's remarks align with the Bharatiya Janata Party's manifesto, which aims to transform India into a global manufacturing hub and enhance employment opportunities in key sectors, including electronics, defence, mobile technology, and automobiles. The party envisions making India a leading electronics manufacturing hub by 2030.

Furthermore, He indicated that major global companies are eager to invest in India. He observed that, since the elections, many individuals seeking meetings with him in his third term are investors, presenting a significant opportunity for growth. He urged state governments to actively attract these investors.

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