Key Points
Prime Minister Narendra Modis government has pledged to boost manufacturing in India as it seeks a third term in power, potentially increasing the countrys control on supply chains and creating jobs, a government adviser said.. Modis government would target the export-oriented sectors that face high import duties which hurt their competitiveness, Arvind Virmani, a member of the governments policy making agency Niti Aayog, said in an interview on Friday...
A Modi administration would also focus on lowering trade barriers and improving output-linked incentive plans, he said, adding that the finance ministry is identifying sectors where duties can be reduced...
Earlier this year, India reduced tariffs on several mobile-device components to boost production and make exports competitive..
You might be interested in
PM Modi: India at forefront of biodiversity protection
29, Jul, 23Prime Minister Narendra Modi on Friday said India had consistently been at the forefront in taking action on biodiversity conservation, protection, restoration and enrichment.
'When policy is given utmost priority, one can see it's outcomes': PM Modi at InFinity Forum
09, Dec, 23In a virtual address, PM Modi said India's economy has grown at a rate of 7.7% in the first six months of this fiscal year.
Govt not at a standstill due to polls, working to make India a $35 trillion economy by 2047: Piyush Goyal
30, Mar, 24Ahead of elections, Commerce and industry minister Piyush Goyal spoke on centres focus, trade, new-age companies and more. He said countrys growth to be based on twin pillars of being inclusive & sustainable.
Prime Minister Narendra Modi invites US chip maker Micron to boost semiconductor manufacturing in India
22, Jun, 23India is promoting semiconductor development and is positioning itself as among the most attractive destinations in Asia for electronics and semiconductors, with a semiconductor market value of $27.2bn in 2021 and expected growth to $64bn in 2026. Modi also invited General Electric to play a greater role in the aviation and renewable energy sector in India.
Elon Musk breaks his silence over ex-Twitter CEO Jack Dorsey’s shocking claims about Indian government
21, Jun, 23In a separate video statement, Musk praised Prime Minister Modi, acknowledging his genuine concern for India and his efforts to encourage significant investment in the country. Musk expressed admiration for Modi, referring to himself as a fan.
We have witnessed new flight of new India: PM Modi on successful landing of Chandrayaan-3
23, Aug, 23India is now on the moon and the success belongs to all humanity, Prime Minister Narendra Modi said on Wednesday as Chandrayaan-3 landed successfully on the lunar surface.
Investors need not be jittery; PM Modi coming back with good majority: Nirmala
27, Nov, 23New Delhi, Nov 27 (PTI) Finance Minister Nirmala Sitharaman on Monday said that Prime Minister Narendra Modi will come back to power in 2024 with a “good majority” and global investors need not be “jittery”. She also said the government is committed to systemic reforms to accelerate the pace of growth. Participating in a debate […]
Why govt banned imports of Laptops, computers? How will it help india? Here are all the answers
05, Aug, 23India has announced limitations on the import of laptops, tablets, and some types of computers with immediate effect on security grounds and to stimulate domestic manufacturing. The government's move may limit imports of these commodities from China and Korea. Companies must now get approval or a license for their inbound shipments.
China will be in Modi's crosshairs if he wins a third term
04, Mar, 24The Modi government aims to make India the world's third biggest economy and a competitive rival to China. It focuses on boosting domestic manufacturing, merchandise exports, and reducing import duties. India plans to emerge as a global semiconductor manufacturing powerhouse. The pandemic and geopolitical factors have forced the Western world to move supply chains away from China which has been their factory for a long time, supplying a large number of manufactured goods.
Govt needs to reduce import duties on inputs, capital goods to lessen need for export schemes: GTRI
24, Nov, 23India's Global Trade Research Initiative (GTRI) suggests that reducing import duties on inputs and capital goods could help reduce the need for many existing export schemes. The think tank argues that many countries, including major trade partners like the EU and the US, view Indian schemes as subsidies and punish exporters by charging countervailing duties.