Aatmanirbhar Bharat is about transforming India into a manufacturing hub: PM Modi

Prime Minister Narendra Modi said that 1.3 billion Indians have embarked on one mission to make an Aatmanirbhar Bharat which merges the local with the global. He said Aatmanirbhar Bharat is about transforming India from being just a passive market to an active manufacturing hub at the heart of global value chains. Delivering a keynote address at the US-India Strategic Partnership Forum last evening, Mr Modi said, India has shown time and again that its goal is global good.

The Prime Minister said the current COVID-19 situation demands a fresh mindset where approach to development is human centric. He said the pandemic has shown the world that decision on developing global supply chains should be based not only on costs but also on trust. He added that along with affordability of geography, companies are now also looking for reliability and policy stability. He stressed that India is the location which has all these qualities.

The Prime Minister said India offers diverse opportunities. These opportunities are in the public as well as private sector. They cover core economic sectors as well as social sectors. Recent sectors that have opened include Coal, Mining, Railways, Defence, Space and Atomic Energy.

The Prime Minister pointed out that India offers a transparent and predictable tax regime. He said,India’s GST is unified and there is a fully IT enabled indirect tax system.