Schedule a Call Back
Niti Aayog CEO says Indian companies must become globally competitive
Industry News- Jun 14,21
Amitabh Kant, CEO, Niti Aayog urged Indian companies to become globally competitive instead of promoting protectionism and complaining about imports via Free Trade Agreements (FTAs).
New Delhi
Amitabh Kant, CEO, Niti Aayog urged Indian companies to become globally competitive instead of promoting protectionism and complaining about imports via Free Trade Agreements (FTAs). He said firms should stop promoting protectionism and complaining about imports via FTAs as he delivered the keynote address at a virtual session by the BIF on ‘Atmanirbharta in Telecom Manufacturing.’ He suggested that it was the right time for Indian firms to start penetrating the global supply chains.
He added that FTAs are a give and take relationship. Indian firms should do manufacturing to bring size and scale then become globally competitive to penetrate global markets. Delivering the keynote address at a virtual session organised by the Broadband India Forum (BIF) on ‘Atmanirbharta in Telecom Manufacturing’, he added that compared to domestic markets, companies can get five times the value in global markets, thus providing a huge opportunity for exports.
He recommended that manufacturing companies leverage the benefits of the production-linked incentive (PLI) scheme and establish their component ecosystem in India.
The head of India’s policy-making body said India has over 1.2 billion wireless connections and is the second-largest telecommunications market in the world. It is also the fastest-growing broadband market with almost 747 million broadband users.
The country was importing more than Rs 500 billion of telecom equipment. He mentioned that if India does not start manufacturing, the telecom sector will end up having more imports in the next five years than the petroleum sector.
Source – ET Telecom
Indian companies
Indian firms
Amitabh Kant
Niti Aayog
Free Trade Agreements
FTA
Broadband India Forum
BIF
Atmanirbharta in Telecom Manufacturing
production-linked incentive scheme
PLI scheme
policy
Telecom manufacturing
Related Stories
Policy Regulation
GOI to launch credit guarantee scheme for MSMEs covering loans upto Rs 1 billion
The government is also focusing on promoting rural entrepreneurship, with an emphasis on enhancing quality, building export linkages, capacity development, and achieving the vision of ‘Viksit Bhar..
Read moreElectrical & Electronics
India unveils Rs 250 billion plan for electronics components manufacturing
The scheme will adopt a different incentive structure, as components and subassemblies are capital-intensive, unlike smartphones where smaller investments are required for larger manufacturing opera..
Read morePolicy Regulation
MSMEs in 2024: Key policy announcements that shaped the sector
Companies with turnover above Rs 2.5 billion and all central public sector enterprises (CPSEs) were required to join the TReDS platform by March 2025 to enhance payment cycles.
Read moreRelated Products
Laser Control Micro Compact Nt
Testing and Measuring Instruments
Blum-Novotest Measuring & Testing Technology Pvt Ltd offers a wide range of laser control micro compact NT.
Wireless Remote Control Siren
Testing and Measuring Instruments
Forbix Semicon Technologies Pvt Ltd offers a wide range of wireless remote control siren.
Repairing of Time Makes Digital Portable Metal Hardness Tester
Testing and Measuring Instruments
Aqua Excel Chemtest manufactures a wide range of soil test kits. Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
