Industries Moving Out of China an Opportunity For India: Nitin Gadkari

- Advertisement -
  • The minister recalled that Government of Japan has offered special package to its industries for taking out Japanese investments from China and move elsewhere
  • He was speaking at the ‘MSME and Infrastructure, Post COVID-19: Life of these two lifelines of the Indian Economy’ webinar

Union Minister for MSME and road transport and highways Nitin Gadkari has said that industries should keep a positive outlook and tap the opportunities that may arise after COVID pandemic is over.

Gadkari called upon the industry that it is needed to be ensured by industries that necessary preventive measures are taken to prevent the spread of COVID-19.

He was addressing a webinar on ‘MSME and Infrastructure, Post COVID-19: Life of these two lifelines of the Indian Economy’, organized today by Indore Management Association.

Special focus towards export enhancement need of the hour

- Advertisement -

The minister emphasized that special focus towards export enhancement is the need of the hour. Further, he mentioned that there is also need to focus on import substitution to replace imports with domestic production.

India imports roughly US$60 billion worth of electronics annually. A majority of these are imported from China.

Gadkari recalled that Government of Japan has offered special package to its industries for taking out Japanese investments from China and move elsewhere. He opined that it is an opportunity for India which should be grabbed.

Some of the major issues highlighted and the suggestions given included: Increasing provision of 10 per cent of working capital limit as additional funds to 30 per cent , relaxation in Companies Act so that liquidity can be arranged from social circle, benefit for labourers infected by COVID-19, relaxation in labour laws, relaxation in electricity bills during the lockdown, deferring GST and advance tax, introducing a scheme for COVID-19 similar to Voluntary Disclosure of Income scheme, etc.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

Motional’s Robotaxi Debuts in LA

0
Motional, a joint venture between Hyundai Motor Group and Aptiv has started the ride service of the free 'Robotaxi' Ioniq 5 in Las Vegas....
Drone

First Drone School Destination in NE: Guwahati

0
In the pursuance of the ‘Act East’ policy and the aim to make India a drone tech hub, northeast India has got its first...

8 EMC Projects Completed

0
The Electronics Manufacturing Cluster is leaving no stone unturned for setting up operational units around the country. Out of the 3464.42 acres, 1342 acres...

Exclusive

Motional’s Robotaxi Debuts in LA

0
Motional, a joint venture between Hyundai Motor Group and Aptiv has started the ride service of the free 'Robotaxi' Ioniq 5 in Las Vegas....

Sterlite Tech’s Losses down QoQ, Revenue Up YoY

0
Sterlite Technologies recently published its financial performance results for Q1, FY 23. While it witnessed a 20.32% increase in the overall revenue on a...

8 EMC Projects Completed

0
The Electronics Manufacturing Cluster is leaving no stone unturned for setting up operational units around the country. Out of the 3464.42 acres, 1342 acres...

Important Sectors

Motional’s Robotaxi Debuts in LA

0
Motional, a joint venture between Hyundai Motor Group and Aptiv has started the ride service of the free 'Robotaxi' Ioniq 5 in Las Vegas....

Sterlite Tech’s Losses down QoQ, Revenue Up YoY

0
Sterlite Technologies recently published its financial performance results for Q1, FY 23. While it witnessed a 20.32% increase in the overall revenue on a...
Drone

First Drone School Destination in NE: Guwahati

0
In the pursuance of the ‘Act East’ policy and the aim to make India a drone tech hub, northeast India has got its first...

I-Day Gift: Ola Electric Car in 2024!

0
Ola Electric, at an event on Monday, announced the launch of their first electric car by 2024. Though not much has been revealed about...

Indian Chip Industry to Cross $300 billion by 2026

0
As India gradually strides toward becoming Aatmanirbhar, a new report on the chip component industry avouch for this growth. The report of India Electronics...

Manufacturing

I-Day Gift: Ola Electric Car in 2024!

0
Ola Electric, at an event on Monday, announced the launch of their first electric car by 2024. Though not much has been revealed about...

Indian Chip Industry to Cross $300 billion by 2026

0
As India gradually strides toward becoming Aatmanirbhar, a new report on the chip component industry avouch for this growth. The report of India Electronics...
EV

Volkswagen Testing ŠKODA EVs in India

0
German auto giant Volkswagen has begun to test some ŠKODA EVs in India. As per a senior official of the company, the step aims...

Mahindra To Launch Unveiled e-SUVs in 2024

0
On Monday, Indian auto-giant Mahindra & Mahindra (M&M) unveiled its five new electric sports utility vehicles (e-SUVs) --- XUV.e8, XUV.e9, BE.05, BE.07 and BE.09,...

US Aiming to Regain its Semiconductor Leadership

0
Semiconductors are now finding a rightful place in all areas such as national security, information technology, aerospace, and so forth. What is sad is...