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PM Modi says India developing into a manufacturing hub

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PM Modi says India developing into a manufacturing hub
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NEW DELHI: Prime Minister Narendra Modi praised the performance of the production-linked incentive (PLI) plan on Monday, saying it is boosting manufacturing, whether it be of electronic items or mobile phones.

The Prime Minister stated during his Independence Day speech that India is developing into a manufacturing hub and laying the groundwork for its independence. The PM also expressed his delight with the fact that most companies have been conceptualised by residents of tier 2, tier 3 cities, and smaller towns.

Speaking of the PLI programme, Modi claimed that immigrants from all over the world are bringing new technologies with them, creating new economic prospects in this country. "It is building a foundation for a self-reliant India. Be it the manufacturing of electronic goods or mobile phones, today the country is progressing at a very fast pace. Which Indian wouldn't be proud when our Brahmos is exported to the world? Today the Vande Bharat train and our metro coaches are becoming objects of attraction for the world," PM Modi stated.

The PLI scheme was initially introduced by the government in 2020 to encourage domestic manufacturing by providing financial incentives, including tax breaks, reduced import and export levies, and relaxed land acquisition standards, among others. The overall spending for the PLI scheme was declared as Rs 1.97 lakh crore by Finance Minister Nirmala Sitharaman in her speech outlining the budget for 2021–22. The Center has so far proposed PLI schemes for 14 industries, including those related to drones, advanced chemical cell batteries, solar panels, white goods, communications, electronics and IT hardware, metals and mining, telecom, medicines, and solar modules, NIE reported.

He emphasised the necessity for India to become energy self-sufficient because it imports more than 80% of its oil needs. In terms of solar, wind, and other renewable energy sources like hydrogen, biofuels, and electric vehicles, Modi emphasised that the nation should be self-sufficient. PM Modi added that the 5G mobile service, which promises to be 10 times quicker and provide lag-free access, will soon be available in India.

He emphasised the necessity of digitalization and noted that it is the only way to fully reform the education environment, revolutionise the health infrastructure, and raise the standard of living in agriculture.

"Today we are all set to enter the 5G era. You don't have to wait too long before we match the global steps. We are ensuring that optical fibre reaches each and every village until the last mile," said the prime minister. He described the Digital India movement as an effort to expand the optical fibre network, create semiconductors, and join the 5G era.


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