India has a big potential to become a global manufacturing hub in some areas particularly in the electric vehicles segment, according to PHD Chambers of Commerce and Industry (PHDCCI).
“We are confident that India has the true potential to become a leader in Electric vehicles, with a focus on quality and minimum dependency on foreign raw materials, said Pradeep Multani, President of PHDCCI in a statement here.
The Industry body supported the initiative taken by the Prime Minister Narendra Modi to build a robust manufacturing base in India with the cooperation of all the stakeholders, including centre, states, private sector, among others.
We fully support Modi’s emphasis on the presence of significant potential in India and his urge to the industry stakeholders to come out with ways to ensure effective utilisation of the potential to achieve our growth goals,” said Multani.
Modi has also mooted to build a robust manufacturing infrastructure to promote “Make in India” brand and also to promote self-reliance. This, along with increasing self-reliance in raw material procurement, would go a long way in making India “Atmanirbhar” (self reliant) in the coming times, Multani added.
In this regard, promoting “Make in India” concept through increase in exports and domestic demand of products having international quality would go a long way in making India as a Global leader in business and Industry, Multani said.
PHD Chamber supports the vision of the Prime Minister in building a strategic approach for achieving global standards to compete in the global market, study foreign markets, and identify export destinations and diversification of the products, the PHDCCI President said.
“We do hope that the Private sector will focus more on R&D with “zero defect, zero effect” because quality matters in a competitive world along with producing environmentally friendly products, Multani further said.
PHD Chamber values the idea of Common Branding with the participation of both government and private sectors to encourage Indian products in the Indian markets, he added.
The focus of Commerce and Industry Minister Piyush Goyal on quality standard, productivity, National Single Window System, reducing compliances and innovation & R&D, would enhance India’s competitiveness not only at domestic level but also in the international market.
The Industry Body hailed the proposed move of Amitabh Kant, CEO, NITI Aayog, that the manufacturing sector needed to thrive to ensure holistic growth of the economy. “We appreciate NITI Aayog’s view on the sunrise sector as a high utility sector of genomics, semiconductors, etc will be the key drivers in economic growth, Multani said.
PHD Chamber said PM’s “Gati Shakti” initiatives are expected to play an important role to enhance infrastructure landscape, balancing export as well as domestic requirements through SEZ’s.
