Bipin Menon, Development Commissioner, Noida SEZ, believes that import substitution is an inappropriate nomenclature for India’s policy thrust, which is primarily enhancement of domestic manufacturing capacities, including through strategic collaborations and export orientation. He illustrates this by analysing the intent and impact of India’s overall economic and trade policies, while...
Prof Manoj Pant, Director, Indian Institute of Foreign Trade argues that from a long-term point of view, import substitution should be seen along with the Production Linked Incentive (PLI) Scheme, and quality control must be also linked to the scheme. Over time, the aim should be that the items under...
India needs to strengthen its manufacturing ecosystem for printed circuit board assembly, since it is the heart of every electronics device. Doing so will help facilitate much needed backward integration, and help reduce India’s huge imports in the sector. In order to become an electronics hub, India must focus on...
Dr. Sunitha Raju, Indian Institute of Foreign Trade, argues that viewing Aatma Nirbhar Bharat from the perspective of import substitution is wrong and potentially dangerous. Instead, India should have a holistic approach towards attracting FDI in its areas of strength, develop skill sets to capture new emerging opportunities and also...
Cheap imports of solar panels have been essential for achievements in National Solar Mission, but with imports acquiring maximum market share, it is expected that domestic manufacturers will be depressed enough to be wiped out from competition. Indian Solar Manufacturer’s Association (ISMA) has appealed in June 2017 for the third...
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