Prime Minister Narendra Modi on Tuesday underscored the need for building a robust supply and value chain within India to minimize the impact of global fluctuations emphasizing that the country cannot bank upon fragmented and import-based supply chains.
Speaking at the ‘Utkarsh Odisha’ – Make in Odisha conclave, the state’s biennial investors’ meet to showcase Odisha as an emerging investment destination, he called upon the industry leaders to recognize the challenges of the global supply chain in a rapidly changing world.
Advertisement
To tide over the global fluctuations, responsibility lies with both the government and the industry, he said urging upon the industries to support MSMEs and young start ups, laying stress on the importance of research and innovation for growth.
Stating that the Centre was creating a vibrant research ecosystem in the country, with a special fund and a package for internships and skill development, he encouraged industries to actively participate and collaborate with the Government.
Maintaining that India was rapidly progressing towards becoming the world’s third-largest economy, Modi said that the milestone of a five trillion-dollar economy was not far away.
He further added that over the past decade, India’s strength in manufacturing had also become evident.
Emphasising that a strong research ecosystem and a skilled young workforce will directly benefit the industry, Modi urged industry partners and the Odisha government to work together to build a modern ecosystem aligned with Odisha’s aspirations, providing new opportunities for the youth. This, he said, will create more job opportunities within Odisha, leading to prosperity, strength, and progress for the state.
The Prime Minister highlighted that the expansion of India’s economy rests on two major pillars: the innovative service sector and quality products. He emphasized that the country’s rapid progress cannot rely solely on the export of raw materials and therefore, the entire ecosystem was being transformed with a new vision.
The Prime Minister mentioned that India was changing the trend of extracting minerals and sending them abroad for product manufacturing and value addition, only to have those products return to India. Similarly, he added that the trend of exporting seafood for processing in other countries was also being changed.
Noting that the world was increasingly focusing on sustainable lifestyles and moving towards a green future, PM said that the potential for green jobs is also growing significantly.
He emphasized the need to adapt to the demands and requirements of the times.
He highlighted that India was focusing on green technology and a green future, including solar, wind, hydro, and green hydrogen, which will power the energy security of a developed India. Stating that Odisha had immense potential in this regard, he said the country had launched national-level Green Hydrogen and Solar Power Missions.
The Odisha Government has worked in this regard with significant policy decisions to promote renewable energy industries in the state.
