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India must remain integral part of global economy: Niti Aayog CEO
Jan-20-2021

Niti Aayog CEO Amitabh Kant has said that India must remain an integral part of the global economy if it has to grow at 9-10 per cent over the next three decades. He said India needs to become a major global exporting nation, without that it will not be possible to become richer and create wealth for its people over the next three decades. He added that if India has to grow at 9-10 per cent over a three-decade period, it must be open, it must be an integral part of the global economy. He also said it must be an integral part of the global supply chain.

Kant further pointed out that the government's Aatmanirbhar Bharat initiative is not about protectionism, it is about making India part of the global supply chain. According to him, post-COVID-19 pandemic, only those countries will grow who will use digital ecosystem. He said ‘post- pandemic global supply chain will be restructured, and you can be only competitive if you can use the power of technology’. Noting that India's digital divide is narrowing down, Kant said if you look at the huge growth in Unified Payments Interface (UPI), it has grown manifold.

On the production-linked incentive (PLI) plan, the Niti Aayog CEO said the scheme in electronics and mobile manufacturing has received very good response. He said like mobile and electronic manufacturing, the PLI scheme for battery manufacturing will give a much-needed fillip to country's manufacturing, and added that India needs to get into sunrise areas of growth. The Pradhan Mantri Jan Dhan Yojana (PMJDY) has democratised access to financial services. Kant also pointed out that India is the vaccine capital of the world, as the country makes 70 per cent of the world's vaccine.

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