NITI Aayog CEO Amitabh Kant said on Saturday the government is working to bring down the cost of logistics and cost of power for Indian industry. He said it has taken a series of measures to make India highly competitive in the global economy.
Kant added India needs to focus on boosting its manufacturing capabilities in sunrise sectors. He noted that the Production-Linked Incentive (PLI) scheme could spur manufacturing and help India become a leader in manufacturing in sectors under the scheme.
“The only two challenges that we have in the manufacturing sector are now bringing down the cost of logistics on which we are working, and discoms because I feel that the cost of power for manufacturing, industrial consumers is still high compared to other countries, which needs to be brought down,” said Kant while addressing the Ficci annual convention via video conferencing.
Kant also said there was a need to shift focus to boosting manufacturing capacity in sunrise areas.
“What, quite often, we do in India is to focus on sunset areas of industries, and it’s then very difficult to penetrate emerging areas of growth, “ said Kant, noting that 73-74 per cent of India’s exports were in sectors that accounted for only 30 per cent of the global market.
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