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External Affairs Minister S Jaishankar called for the creation of a robust domestic vendor chain for the manufacturing sector, rather than relying on Chinese efficiency to fuel Indian growth
Speaking at the launch of the book “Made in India: 75 Years of Business & Enterprise” by India’s G20 Sherpa Amitabh Kant on Wednesday (10 May), Jaishankar said, ” I think we need to stop looking for a China fix. Indian growth cannot be built on Chinese efficiency”.
“If we are really to sustain and take the economy to a different level we have to create a kind of domestic vendor chain that a serious manufacturing economy will do,” he added.
He also said that there is no major country in the world which has sustained or enhanced its global position without some commensurate build-up of manufacturing.
Jaishankar argued that the production-linked incentive scheme (PLI) was India’s effort to raise manufacturing capabilities in the country.
The Minister added that India needs to focus on manufacturing to take advantage of opportunities in the post-pandemic world.
Jaishankar highlighted that the country will have to think through its growth strategy and domestic solutions against the backdrop of global challenges, citing the Covid experience and the strategy adopted to deal with it.
The Minister also emphasised the need to look at the economy from a strategic perspective and identify the right partners.
“I see ‘Make in India’ not as an economic program, not as a manufacturing program. I see it as a strategic statement,” he added.
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