Govt’s firm stand on buying Russian oil saves $8 billion in India’s import bill
Prime Minister Narendra Modi-led government has stood firm in maintaining its ties with Russia despite the Western sanctions against Moscow.
The ongoing Russia-Ukraine crisis is a wake-up call for India, not to be dependent on others for crude oil and defence equipment, Commerce and Industry Minister Piyush Goyal said today.
He asked Startups to help India become self-reliant in energy needs.
” Some of the Startups are looking for innovative ways for indigenisation of defence equipment,” he noted at an awards function in Bengaluru.
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Goyal said the present situation was appropriate for the success of the ”Make in India” programme launched eight years ago. ”The Atmanirbhar Bharat initiative and the outcome of Covid-19…everything collectively is helping India’s growth trajectory,” he added.
He said every crisis could be converted into an opportunity. Covid-19 was the ‘biggest of the century’ but it was converted into an opportunity, wherein many young men and women came up with innovative solutions to the problems.
The minister assured the Startups that the government was looking into their needs and its doors were open to them 24×7.
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