Manufacturing is essential to get and develop technology

To what extent should be the economic relation with china?

If there is no peace and tranquility on the border, how can you have workable relations with any neighbour? Be it china or Pakistan. On the economic issue, there are two parts. First is straightforward economics where you have put country whose manufacturing practices have put the rest of the world at a disadvantage. And, we are entirely within our rights to protect the interests of our labour and working classes.

I get a lot of lectures about why are you being protectionist in this globalised world? But I will take whatever defensive measures I have to in the interest of the working class whose jobs are at stake. People who give this lecture are not connected with the economy, the society.

As someone who spends a lot of time with MSMEs, who has lived in Noida that sense of resentments is today about dumping of goods from China. We will do what it takes.

Second are the sensitive sectors. Every country today has the right to manage sensitive sectors in consonance with national security. I cannot, in the name of open economy, open up my national security to work with a country which is laying claim on my territory. Both our economic and national security are at stake.

On Apple sourcing raw material from China?

Look Apple’s performance. They’re doing splendidly. I assure you that whether it was Apple or anybody else in a similar situations, we’re not impractical people. Don’t get me wrong. We want to see global companies come of India.

If global companies have prior vendors and supply chains, we are not impervious. Nobody has said that Chinese companies cannot come to India. On the contrary, we only said we will examine, scrutinies, try to understand who is coming here for what. I would actually point to Apple as a case which has had a good experience in India, not a difficult one.

How do you see the prospects for India’s exports?

I would actually put exports as the derivative. The primary change is Make in India. Today, we have a strong  insistence that as far as possible to collaboratively produce with as many partners and as many products or capabilities in India. This is contrary to the Raghuram Rajan-Rahul Gandhi view that we are incapable of manufacturing and we shouldn’t be doing it.

We are capable and it’s necessary to manufacture because without that, you won’t get technology, you won’t be able to develop your own technology. So, however tough it is, we have to get into the manufacturing game more seriously.

The big issue is we are heading for a very difficult world. Just look around. Be it Gaza, the Red Sea, Arabian Sea, our borders, South China, US China polarization, climate change…. this is almost like a storm building up. And, a lot of countries are getting buffeted. At this time, I think it’s absolutely vital that we have safe, experienced, courageous set of hands on the tiller.

 👇 Please Note 👇

Thank you for reading our article!

If you don’t received industries updates, News & our daily articles

please Whatsapp your Wapp No. or V Card on 8278298592, your number will be added in our broadcasting list.