Image Source: The Hindu
Prime Minister Narendra Modi has brought into focus raw material security as a national priority, threatening that India's current trend of exporting minerals and importing finished products is "unacceptable." Addressing the Make in Odisha Conclave, Modi stressed the need to change course from raw material exports to developing strong domestic value chains, particularly in mineral-rich states such as Odisha.
Key Highlights:
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Value Addition Imperative: Modi exhorted development of India's industrial base on a pattern that will ensure value addition and processing of minerals locally to achieve economic dividends.
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Supply Chain Resilience: Resilient and self-dependent supply chains were advocated by him while citing weaknesses thrown open by outside world disruptions.
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Green Economy Focus: Prime Minister associated security of raw material with India's vision for a green energy drive and advocated capital infusion in national industry for renewal energies and next-generation manufacturing.
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Eastern Growth Engine: Modi reoriented Odisha and eastern India as central to the industrial future of India, mobilizing mineral resources and policy changes.
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Aspirational India: He came to the realization that enabling local industries holds the potential to fulfill the ambitions of a fast-growing country.
Sources: Hindustan Times, Business Standard, Economic Times Energy
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