As per an announcement from the Ministry of Heavy Industries, a recent event was organised to delve into the prospects of localisation, featuring prominent figures such as Union Minister Mahendra Nath Pandey, Secretary Kamran Rizvi, and senior officers from the Ministry of Heavy Industries.

The Union Minister underscored the pivotal role of high-quality and advanced localisation in positioning India as a prominent global supplier. He expressed, "Whether it's the Ministry's PLI scheme promoting localisation or initiatives like the FAME scheme, India is rapidly advancing towards economic strength. The Capital Goods Scheme and various manufacturing promotion schemes share a common objective ? to manufacture products of international standards within the country and generate employment for our youth."

Highlighting the Prime Minister's vision of "making local vocal" and then progressing from "local to global," the Minister emphasised the need to first become vocal for local. He stressed that this mantra serves as a crucial link in the 'Self-reliant India Campaign.'

Commending the industry's alignment with Prime Minister Narendra Modi's vision of domestic production of essential goods, the Minister particularly lauded the technological advancements in the automotive sector facilitated by the Production-Linked Incentive (PLI) schemes. He asserted that the journey to meeting the demand for advanced technologies lies in fostering a self-reliant India.

The PLI scheme, complemented by initiatives like the FAME scheme and Capital Goods Scheme, aligns with the objective of domestically manufacturing products of international standards and fostering employment.

Kamran Rizvi affirmed the Ministry of Heavy Industries' commitment to reducing imports and promoting localisation. He emphasised the significance of increased exports for augmenting turnover and employment opportunities in the country.

Rizvi highlighted MHI's ongoing initiatives to comprehend the reasons for imports, formulate policies to reduce them, and encourage exports through extensive consultations with industry representatives. Emphasising the role of industry growth and support in achieving deep localisation and establishing new R&D facilities, Rizvi discussed efforts to collaborate with industry representatives.

The Union Minister also unveiled the new Ministry of Heavy Industries website during the event, showcasing MHI's initiatives, including the PLI scheme for Automobile and Auto Components, and endeavours in the Capital Goods Sector, with the overarching goal of positioning India as a global manufacturing hub.

Source: ANI