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A Robust local Supply chain imperative for a self-reliant India: PM Modi

PM Modi on Supply Chain
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Prime Minister Narendra Modi on Tuesday, in his third address to the nation since the lockdown, pitched for an “Atmanirbhar Bharat” – a self-reliant India and considered strengthening the supply chain of the country as a huge contributing factor.

“The Corona crisis has explained to us the importance of Local manufacturing, Local market and Local supply chain. In times of crisis, this Local (market) has fulfilled our demand, this Local has saved us. Local is not just the need, it is our responsibility also. Time has taught us that we must make the Local as a mantra of our life,”

~Prime Minister Modi, while addressing 1.36 billion natives of the nation.

Speaking on the same, the Prime Minister mentioned Economy (an economy that brings Quantum Jump rather than Incremental change), Infrastructure (an infrastructure that became the identity of modern India),  Our System,  (a system that is driven by technology which can fulfill the dreams of the 21st century; a system not based on the policy of the past century.) and Our Demography (Our Vibrant Demography is our strength in the world’s largest democracy, our source of energy for self-reliant India) as the other contributing factors in the journey towards making a self-reliant  India.

He also said, “Self-reliance is possible only through inner strength and self-belief. Self-reliance also prepares the country for a tough competition in the global supply chain. And today, it is the need of the hour that India should play a big role in the global supply chain.”

Furthermore, in his address, the Prime Minister announced INR 20 Lakh-crore economic package for a self-sufficient India.

He said, “Friends, in the recent past, economic announcements made by the government related to the Corona crisis, which were the decisions of the Reserve Bank. The economic package that is being announced today, if added, comes to around Rs. 20 lakh crores. This package is about 10 percent of India’s GDP.”

The package will support and strengthen various sections of the country and those linked to the economic system. And, it will lay an emphasis on land, labor, liquidity and laws.

The nitty gritty of the economic package will be announced by Finance Minister, Nirmala Sitharaman on Wednesday.

The economic package has been made keeping in mind the role India should play in the global supply chain and ensure an increase in efficiency and quality of all the sectors.

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