New Delhi: Govt of India plans to boost self-made products in the market especially contrary to those in which China enjoys a big share in the global market. The effort will push exports while reducing imports, a cabinet minister said on Monday.
The govt aims to support and promote local manufacturers and businesses, to attract foreign investments in order to expand India’s share of global markets, Nitin Gadkari, Minister for MSME (micro, small and medium enterprises), told a conference.
“There is an opportunity for India in sectors where China enjoys a big share in the global market,” he said.
In the last few months, the government has announced production-linked incentives for the manufacturing of electronics, medical devices, and pharmaceutical products while putting restrictions on imports of Chinese products.