Make in India is a win-win situation not only for Indian players but also for foreign players, says Madhukar Gupta, Additional Secretary, Ministry of Heavy Industries, Government of India. In this interview with Sudheer Gautham of Elets News Network, Gupta talks about creating an impact on the Indian market by collaborating with foreign stakeholders. He also talked about his vision and plans for the Make in India campaign.
What role does technology play in making a difference in your sector?
Our focus is on the public sector of our country. As we get connected to the networked global economy, we have to collaborate with different players. Our PSUs have their footprints in more than 60 countries apart from India. One assured way of increasing the volume and turnover is to increase exports. In terms of exports, we have to compete with other global players. Not just that, we are also competing with the private sector players and even public sector players. Technology is an extremely critical element in increasing efficiency and reducing cost as far as providing goods and services are concerned.
What is the progress of Make in India scheme so far and what is your vision regarding this?
Different PSUs work with their line ministries. Together, they are working on import substitution and value addition within our country. Wherever we are getting technology or services from foreign countries, we are trying to explore possibilities of manufacturing within the country. Hence, with the help of foreign and advanced technologies, we are manufacturing goods and services within India.
While on the one side we are reducing the imports, we are increasing the exports. Make in India is a win-win situation not only for Indian players but also for foreign players. When they set a base here and start manufacturing the same products in India, they get a huge market within India. All the reputed manufacturing companies of the world are setting their base in India.
At present, we can see a lot of products manufactured in foreign bases have a market in India. What is your view on that?
We have to encourage foreign countries exporting in India to create a manufacturing base here. At the same time we have to be aware of the tariff regime, the import duties and custom duties. Many of these incentives have to be fiscal. Initiatives need to be taken for collaboration within the organisations based in India as well as outside the country. It has to be done at both policy as well as industrial level. The policies that we create have to be conducive towards the industry.
What are your ideas and thoughts about the Knowledge Exchange?
While such platforms to share inter departmental insights, experiences and plans across India, I feel that we need to open the platform for stakeholders across the world. Exchange of ideas in a global level would be a win-win situation for the Indian government and manufacturers, as well as the foreign players, who can explore the Indian market.
View the full interview here: