Manufactured goods are ever-shrinking slice of pie, & high exchange rate from surplus in service trade keeps Indian products pricey in export markets, despite low labour costs.
At a FICCI convention, NITI Aayog CEO Amitabh Kant said Rs 2 lakh crore Production-Linked Incentive scheme will make India highly competitive in the global economy.
Report by India Cellular & Electronics Association and Ernst & Young says India can generate $100 bn manufacturing value by 2025, lists ways through which it can be achieved.
The incentives, spread over 5 years, will be provided to sectors like auto, automobile components, textile products, white goods like LED screens, processed food products, among others.
If India fails to action key reforms, its geopolitical leverage will reduce and it will be forced to ally more closely with the US on less favourable terms.
Labour market deregulation has created job opportunities for labourers. For instance, an average textile firm in India has 240 employees; in Bangladesh, about 800.
In a bid to restart manufacturing in the country, and improve the economy, the government will allow some factories to operate under strict conditions.
‘Mother kept pouring water in our eyes whenever the burning became unbearable. She pushed our bodies deep into the blanket, making sure not a single part was exposed,’ my father said.
December oil imports from Russia may drop nearly 50%, but Indian buyers already shifting to non-designated Russian entities and opaque trading channels to keep Russian oil flowing.
The helicopters produced by Lockheed Martin are known as ‘submarine hunters’. India ordered 24 of these aircraft in 2020 to replace the Sea King helicopters. 15 have been delivered till date.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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