Key Points
Indian businesses need to stop looking for a "China fix", external affairs minister S Jaishankar said Wednesday, while terming the Make in India programme a strategic statement to spur the country's manufacturing...
"If we are really to sustain and take the economy to a different level, we have to create the kind of domestic change that a serious manufacturing economy will do," Jaishankar said at the release of G20 Sherpa Amitabh Kant's book Made in India: 75 Years Of Business and Enterprise here...
The Make in India programme is not just about making; it's also about thinking and to make businesses believe that it's possible to manufacture in this country in a big way, Jaishankar said.. Cautioning against reckless globalisation, he said: "In the name of opening the economy and globalisation, we shouldn't end up de-industrialising this country"...
We must not forget that businesses in other countries also enjoy privileges at the expense of others," he said.. Kant said if India were to become a $10-trillion economy fast (from about $3.3 trillion in FY22), the private sector has to emerge as a much larger wealth creator, given the limitation of the public sector..
"No country in the world has grown on the back of the public sector... and the government has to act as a facilitator," Kant said.. (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)..
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