(Bloomberg, Washington) Indian Treasury Secretary Sitraman said that India is striving to play a more critical role in the global supply chain. It is hoped that through the production incentive plan and the growth of the domestic consumer market, it has become a choice of replacement of China.
Sitraman's Monday (April 10) said in a speech at the Peterson Institute of International Economic Research, a US think tank in Washington, saying that the Indian government's production incentive plan launched in the Indian government covers 13 manufacturing areas, including semiconductor industry. ThisThe global value chain will be introduced into India.
She said, "We hope India can produce many large bulk products" to meet international and local needs.
She takes the mobile phone manufacturing as an example that in 2014, India ’s mobile phone output is very small, and now it has developed into one of the world's largest mobile phone exporters.
India hopes that the supply chain to China will regard India as the first choice destination.
India has just set a grand goal last month, hoping that by 2030, the total export value can be increased to $ 2 trillion each year (S $ 2.66 trillion).
Sitraman's visit to the United States for a week, she will attend the Spring Conference of the World Bank and the International Monetary Fund.
In the past year, India has changed its cautious attitude in the past and actively promoted negotiations with bilateral free trade agreements with many countries including Australia, Britain and Canada.The negotiations between India and the European Union's Free Trade Agreement were also restarted last year.The European Union is India's second largest trading partner, second only to the United States.In the year of March 2022, the trade amount of bilateral goods in Indo -Europe reached a $ 116.36 billion high.
