India's Finance Minister urges investment and support in manufacturing to enhance its role in global value chain and boost self-reliance.
India's Finance Minister, Nirmala Sitharaman, has urged for increased investment and governmental support in the manufacturing sector, aiming to enhance its share in the global value chain. Addressing the CII Annual Business Summit, Sitharaman emphasized the significance of manufacturing alongside services and highlighted an IMF report stating that India's contribution to global growth will be 18% over the next five years, beginning in 2023. She also called for increased sophistication in product manufacturing and policy support to help India become more self-reliant.
May 17, 2024
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