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Startups the new kind of wealth creators, govt working to make Indian ecosystem the best: Modi

Noting how start ups are turning unicorns, Modi says India needs to target the global market, announces production-linked incentive to boost Make in India programme.

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New Delhi: India used to import mobile phones worth USD 8 billion seven years ago and now the country is exporting such devices worth USD 3 billion while reducing imports significantly, Prime Minister Narendra Modi said on Sunday.

Addressing the nation from the ramparts of the Red Fort on the occasion of India’s 75th Independence Day, Modi said the government has announced a production linked incentive scheme to further the flagship ‘Make in India’ mission.

“Electronic manufacturing sector is an example of the change that the scheme is bringing. Seven years ago we used to import mobile phones worth approximately USD 8 billion. Now imports have reduced. Today, we are exporting mobile phones worth USD 3 billion,” he said.

The Ministry of Electronics and IT has cleared 16 proposals from domestic and international companies entailing investment of Rs 148 billion under the production linked incentive (PLI) for global majors as well as domestic companies.

Now, all the leading mobile phone manufacturers including Apple, Samsung, Xiaomi, Vivo etc are manufacturing in India.

The Prime Minister said as the country’s manufacturing sector is advancing, “we should focus on making the best quality products that can stand in the global market”.

“We have to target the global market. Your (manufacturers) product is the brand ambassador of India. Till the time it is in use, its user will proudly say this product is Made in India. This temperament is required,” Modi said.

He said that now start-ups are getting incorporated in small cities even in tier-II and tier-III cities in various sectors and they have played an important role in taking Indian products to the international market.

“Government is standing with full vigour behind our start-ups. Be it giving them financial support (or) simplifying rules, everything is being done,” Modi said

Thousands of start-ups, he said, have emerged during the tough time of corona and start-ups are becoming unicorns.

“Their market value is touching thousands of crores. They are new kinds of wealth creators in the country. They are standing on their own with the power of their unique idea. They are marching forward. In this decade, we need to work to make the Indian start-up ecosystem the best,” the prime minister said.

Modi also announced that the government will develop an e-commerce platform for giving women self help groups (SHG) larger access to countrywide and global markets for their products.

He said that there is a rapid transformation taking place in the villages and now optical fibre network is reaching villages.

According to official data, the government has laid over 5.3 lakh kilometre Optical Fibre Cable (OFC) under Bharatnet project and 1,53,836 gram panchayats (GPs) have been made service ready on OFC media. Further, 4,083 GPs have been made service ready on satellite media. In total, 1,57,919 GPs have been made broadband service ready under the BharatNet project in the country.

“The Internet is reaching villages. Digital entrepreneurs are getting ready in villages. Our more than 8 crore sisters, connected to self help groups, make products. Government will now make an e-commerce portal for giving their products a large market in the country and overseas.” Modi said.

He said at a time when the country is marching ahead with ‘vocal for local’, these digital platforms will connect products of women SHGs in far corners of the country as well as overseas.


Also read: Modi announces Rs 100 lakh-crore Gati Shakti plan to create jobs, develop growth hubs


 

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