PM Narendra Modi tries to hard sell India as global factory

DC CORRESPONDENT
Published Aug 16, 2014, 9:13 am IST
Updated Mar 31, 2019, 11:53 am IST
In an attempt to boost jobs in the country, Modi invited foreign companies
Prime Minister Narendra Modi
 Prime Minister Narendra Modi
New Delhi:In an attempt to boost jobs in the country, Prime Minister Narendra Modi on Friday invited foreign companies to set up manufacturing bases in India for global customers. Making a strong pitch for a faster manufacturing growth to create jobs on a large scale, the Prime Minister called upon foreign companies to sell their products “anywhere in the world, but to make them in India”. He asked Indian companies to make sure that their products have no defect and zero impact on the environment as well.
 
“The world’s economic structure has changed; and now India can not decide its future sitting in a corner,” said the Prime Minister, while adding that India needs to focus on boosting the manufacturing sector to substitute imported goods with made-in-India products which creates more jobs and also restores balance between exports and imports.
 
Mr Modi has specifically listed sectors such as electrical, electronics, chemical, pharmaceuticals, automobiles and agro-based products for multinational companies. “India has got skill, talent, discipline, and determination to do something. We want to give the world a favourable opportunity... Come, I am inviting you,” Mr Modi said.
 
Speaking on the need for import substitution and making the country an export hub, the Prime Minister called upon youth in the country to become entrepreneurs and manufacture “zero-defect” goods.
 
“Today we are importing electronic goods on a large scale. Friends, you will be surprised that we are importing televisions, mobile phones, tablets, etc. It is a necessity to import petroleum products such as oil, diesel and petrol. Second to this (in volume) is the import of our electronic goods,” said Mr Modi.
 
Mr Modi sought to ask Indian youth as to why the country was forced to import even the smallest of things despite having such a resourceful and energetic youth.
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