1. Home
  2. Featured
  3. Can’t accept export of raw materials value addition must happen in India PM Modi – EQ
Can’t accept export of raw materials value addition must happen in India PM Modi – EQ

Can’t accept export of raw materials value addition must happen in India PM Modi – EQ

0
0

In Short : Prime Minister Narendra Modi stressed the need for value addition in India, rejecting the export of raw materials. He highlighted ₹50,000 crore in FDI in food processing over nine years, boosting processed food exports by 150%. Modi reaffirmed the government’s focus on strengthening domestic industries and maximizing economic benefits within the country.

In Detail : Bhubaneswar – Prime Minister Narendra Modi on Tuesday said he cannot accept raw materials getting exported and finished products being shipped into the country, asserting that value additions must happen in India.

Inaugurating the ‘Utkarsh Odisha, Make in Odisha Conclave’ in Bhubaneswar’s Janata Maidan, Modi said he considers eastern India as the growth engine of the country, and the state plays an important role in it.

“The country’s development is not possible only by exporting raw materials. Therefore, we are changing the entire ecosystem and working with a new vision,” he said.

“The minerals are extracted here and exported to some other country where value addition is done and finished products are then sent back to India. This trend is not acceptable to Modi,” he added, citing the example of the export of marine products for processing in other countries.

Urging all to recognise the challenges of the global supply chain in a changing world, the PM said India cannot rely on fragmented and import-based supply chains.

“Instead, a robust supply and value chain must be built within India to minimise the impact of global fluctuations. This responsibility lies with both the government and the industry,” he said.

The PM said the milestone of a USD 5 trillion economy was not far away for India.

He said India’s economy rests on two major pillars — the innovative service sector and quality products.

“The potential for green jobs is also growing significantly. There is a need to adapt to the demands and requirements of the times. India is 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,” he said.

The PM said the aspirations of crores of people were driving India’s movement on the path of development.

“Today, India is moving on a path of development driven by the aspirations of crores of people. This is an era of AI. However, the aspiration of India, not just AI, is the power of our country. Aspiration grows when the needs of the people are fulfilled. In the last decade, the country has witnessed the benefit of empowering crores of people. Odisha represents the same aspiration,” he said.

Modi said the 21st century is about connected infrastructure and multi-modal connectivity.

“India is building specialised infrastructure at unprecedented speed and scale. It will make India a great destination for investment,” he said.

The PM said ASEAN countries have shown interest in strengthening trade ties with Odisha.

“I consider eastern India as the growth engine of the country, with Odisha playing a crucial role in this. History shows that during times when India significantly contributed to global growth, eastern India also made important contributions,” he said.

Modi said measures were being taken to expand the petrochemical sector in the state, and dedicated industrial parks and investment regions were being developed in Paradip and Gopalpur.

“I am confident that Odisha will soon reach heights of development that no one has ever imagined,” he said.

The PM said that research and innovation were the needs of the time.

“The government is working to build a vibrant ecosystem for research and a special fund has also been generated. Industries should come forward and work with the government,” he said.

Asserting that Odisha has immense tourism potential, he said the state was an excellent destination to understand India, with its thousands of years of heritage and history.

The state offers a unique blend of faith, spirituality, forests, mountains, and the sea, he said.

“Today, the focus is wed in India, heal in India. The natural beauty of this place is conducive for this,” he said.

Noting the success of the Coldplay tour, he said India has immense possibilities in the concert economy and urged the state governments and the private sector to invest in creating the necessary infrastructure and skills.

“A country that has such a rich heritage of music, dance and storytelling and a huge pool of youngsters who are big consumers of concerts, there are many possibilities in the concert economy. You have witnessed that in the last 10 years, the demand and trend for live events have increased. Over the last few days, you must have seen the beautiful pictures of Coldplay concerts in Mumbai and Ahmedabad. This proves that there is a massive scope for concerts in India,” he said.

“Big artistes from around the world are attracted to India. I expect the state and the private sector to focus on developing necessary infrastructure and skills for the concert economy,” he added.

The PM said that next month, India will host the World Audio Visual and Entertainment Summit for the first time, and showcase the country’s creative power to the world.

Highlighting that India has significant potential for conference tourism, the PM said venues like Bharat Mandapam and Yashobhoomi in Delhi were becoming major centres for this.

Industrialists like Vedanta Group chairman Anil Agarwal, Aditya Birla Group chairman Kumar Mangalam Birla, and Jindal Steel and Power chairman Naveen Jindal were present at the function.

Governor Kambhampati Hari Babu, CM Mohan Charan Majhi, and Union ministers Dharmendra Pradhan, Jual Oram and Ashwini Vaishnaw were also present.

The PM also inaugurated the ‘Make in Odisha’ exhibition, showcasing the state’s achievements in developing an industrial ecosystem.

Anand Gupta Editor - EQ Int'l Media Network