World needs supply chains that could function uninterrupted by crisis: Modi

Prime Minister Narendra Modi on December 9, 2024, in the context of continuing challenges related to global supply and value chain, said the world needed a system which would function unhindered and uninterrupted even during the biggest crisis. He said, that “today, the world needs an economy that remains robust even in the face of major crises and operates without disruptions. For this, it is essential to establish a broad manufacturing base in Bharat. This is not just important for Bharat but also for the global economy. Recognizing this responsibility, Bharat has committed to self-reliance in manufacturing on a significant scale.  Under the ‘Make in India’ program, Bharat is emphasizing low-cost manufacturing. The country's petroleum products, pharmaceuticals and vaccines, and electronic goods are examples of record-breaking manufacturing efforts that are benefitting the world. Rajasthan itself contributed significantly to this effort, with exports amounting to approximately 84,000 crore rupees last year. 84,000 crore rupees. This includes engineering goods, gems and jewellery, textiles, handicrafts, and agro-food products. “

He also stated that “the Production Linked Incentive (PLI) scheme has been playing an increasingly important role in boosting manufacturing in Bharat. Sectors like electronics, specialty steel, automobiles, auto components, solar photovoltaics, and pharmaceutical drugs have seen remarkable enthusiasm. As a result of the PLI scheme, investments worth 1.25 lakh crore rupees have come, approximately 11 lakh crore rupees worth of products have been manufactured, and exports have increased by 4 lakh crore rupees. Moreover, millions of young people have gained employment opportunities.  In Rajasthan, a strong base for the automotive and auto-component industries has already been established. The state holds immense potential for electric vehicle manufacturing, and the infrastructure necessary for electronics manufacturing is also readily available. I urge all investors to explore Rajasthan’s manufacturing potential and seize the opportunities.”