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The Financial Express
Swasti Lankabangla Swasti Lankabangla

India to promote manufacturing of selected products to boost global market share

| Updated: August 13, 2020 12:26:57


India’s minister for MSME (micro, small and medium enterprises) Nitin Gadkari seen in this undated Reuters photo India’s minister for MSME (micro, small and medium enterprises) Nitin Gadkari seen in this undated Reuters photo

India’s government plans to promote the manufacturing of selected products, especially lines in which China enjoys a big share in the global market, as part of efforts to reduce imports and push exports, a cabinet minister said on Monday.

The government aims to attract foreign investments in pre-identified areas, promote joint ventures and support local businesses to expand India’s share of global markets, Nitin Gadkari, India’s minister for MSME (micro, small and medium enterprises), told a virtual conference.

“There is an opportunity for India in sectors where China enjoys a big share in the global market,” he said.

In the last few months, the government has announced production-linked incentives for manufacturing of electronics, medical devices and pharmaceutical products while putting restrictions on imports of Chinese products.

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