The central government has identified 20 sectors where India can meet domestic demand as well as become a ‘global factory of the world’ by pushing out more exports and reining in costly imports, Commerce and Industry Minister. We had first identified 12 sectors. Now, there are eight more. We have 20 sectors where Ficci and other associations form a part of our engagement. Earlier, food processing, iron and steel, electronics, industrial machinery, furniture, automobile parts, and leather and footwear were among the sectors identified for import substitution and increasing exports.
Minister for MSMEs, Road Transport & Highways, Govt of India, said that the government is likely to set up a multi-purpose R&D centre to reduce import dependence and promote the Make in India (MII) and Made in India initiatives. Addressing an ‘Interactive Meeting of Industry Chambers & Business Associations’, organized by FICCI, Mr Gadkari said, “Industry can buy land and the government will support by providing technology and equipment to the centre.” The industry can tie-up with various IITs and engineering colleges, especially those in agri-related equipment, to find solutions to various products being imported and develop under the Make in India and Made in India campaigns.
The Department of Telecom is working on rolling out a Rs 15,000-crore (€1.8 billion) worth production-linked incentive (PLI) scheme to promote the domestic production of telecom equipment. The DoT is preparing the draft cabinet note to provide financial incentives to companies that produce 5G telecom equipment. The scheme's primary aim would be to boost the domestic production of telecom equipment and reduce the dependence of Chinese suppliers. State-run Indian Telephone Industries Limited (ITI), Sterlite Technology, Tejas Network, and Himachal Futuristic Communications Ltd. (HFCL) are some of the domestic players involved in the manufacturing of telecom equipment.
The national transporter has stated that it is eyeing over $4 billion investments with private passenger train services. Recently, the government has announced two major initiatives of seeking private investment, one is the running of passenger trains by private operators on the Indian Railways network and the other is the redevelopment of railway stations across the country. According to Indian Railways, these projects have the potential of bringing an investment of over $7.5 billion in the next five years. The national transporter has stated that it is eyeing over $4 billion investments with private passenger train services. Railway Ministry has invited both domestic as well as global investors to actively participate in the bidding process for these initiatives.
The Directorate General of Foreign Trade will realign itself along the lines of Prime Minister’s Make in India and will push for production of items domestically to cut down imports. The organisation is “focusing on creating more capacities within the country to produce items that can cut down imports and accelerate exports from the electronics and hardware sector, including ventilators,” Director General Amit Yadav said at an event organized by Electronics and Computer Software Export Promotion Council (ESC). He also said that the government-run agency is also taking suggestions from the industry and others as to the areas which promise new capacities to reduce import and accelerate exports.
The Govt. of India is encouraging investments in the manufacturing of batteries and Niti Ayog is exploring to incentivize the production per kW. India will be moving fast with various favourable policies and schemes to implement efficient energy storage and electric mobility in the country, point out experts. Niti Aayog is working on inviting investments for cell manufacturing and is proposing direct incentives. The critical opportunity is to integrate energy storage, batteries and vehicle manufacturing for a viable commercial market.
The industry needs to cut a dependence on lithium-ion battery imports from China, according to Nitin Gadkari, who said the government is looking to support research into alternative technologies. India can become an electric vehicle (EV) manufacturing hub within five years, according to road transport minister Nitin Gadkari, who urged the industry to grab opportunities as global companies seek alternatives to Chinese supply chains in the wake of the Covid-19 pandemic.
In tune with the agenda of 'AatmaNirbhar Bharat' (self-reliant India), the government has started promoting 'Make in India' products on government procurement portal Government e-Marketplace (GEM). Launched in 2016, GeM portal is used for online purchases of goods and services by all the central government ministries and departments. Currently, government departments, ministries, public sector units, state governments, and Central Armed Police Forces are allowed to carry out transactions through this portal. Items on sale include a wide range of products - from office stationery to vehicles.