PM stresses on lesser govt intervention in business
NEW DELHI [Maha Media]: Stressing on the need for lesser government intervention and ease of doing business, Prime Minister Narendra Modi on Friday said the Centre was of the view that the government interventions into businesses tend to create more problems rather than bring solutions.
The Prime Minister was speaking today at a webinar of the Department for Promotion of Industry and Internal Trade, DPIIT and Niti Aayog on Production Linked Incentive Scheme. This scheme has been launched to make the country self reliant in various sectors by providing incentives to the industries to boost the production.
PM Modi has stressed on the need to improve the quality of indigenously manufactured products to make them more competitive and acceptable across the world. He said, the government is working with the industries for manufacturing of more user-friendly, affordable, sustainable products having cutting edge technology.
Highlighting the importance of production linked incentive scheme, Mr. Modi said, this will create a necessary ecosystem for various industries to boost their production and manufacturing of quality products. He added, the scheme will also enhance the export capabilities of the industries, generate employment and improve income. He said, provisions of more than two lakh crore rupees have been made in the budget for PLI scheme and it is expected that it will lead to production of products worth 520 billion dollars in the coming five years.
Mr. Modi has stressed on improving the ease of doing business, reducing the compliance burden, cutting down the logistics costs and preparing districts as export hubs.
Referring to declaration of year 2023 as the International Year of Millets, the Prime Minister said, it will provide unique opportunities to farmers. He said, use of millets will help in reducing the diseases due to its nutritious value. He appealed to agriculture and food processing sectors to use this golden opportunity to enhance the production and processing of millets.
Appreciating the vaccine diplomacy of the country, Mr. Modi said, the way India is serving humanity is being appreciated across the world. He said, the country's credibility and identity is reaching new heights and trust of Indian products has increased manifold across the globe. He appealed for the pro active participation of the industries to prepare goods as per the changing requirements of the world. He said, the industries must focus on innovation, research and skill development so that globally accepted products can be prepared at the domestic level.