Betting on manufacturing the big Indian dream

Urging the industries and research associations to identify more products that can be manufactured domestically in cost effective manner, Union Minister of Micro, Small and Medium Enterprises (MSME) said in a virtual meeting organised by Marathwada Accelerator for Growth and Incubation Council (MAGIC), a body of Industrial Association Chamber of Marathwada Industries and Agriculture (CMIA), “While identifying crucial products being imported into the country, the focus should be on how they can be manufactured here, he said. The industry should help and support their vendors to create all types of parts in India,”

Atmanirbhar Innovation Challenge 20-21 has recently been launched by the association to promote startup ideas and bring them into reality, the challenge has received around 210 idea entries from 17 states, as per MAGIC director.

Reflecting on the initial cost of setting up domestically produced alternatives, Gadkari added, “there could be a 10-20 per cent rise in prices for the substitute, but when it will start production in large volumes, the industry can get those parts at a reasonable price.Now, it is the time to make import substitutes that will be indigenous, cost-effective and pollution-free.”

Cover image by Holidify