You are here: Home » Economy & Policy » News
Business Standard

India cannot depend on imports for essential goods, says Sitharaman

India must become more self-reliant, after the pandemic disrupted supply chains and showed the risks of depending on exports for essential risks, the finance minister said

Topics
Nirmala Sitharaman | imports

Reuters  |  NEW DELHI 

Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman

NEW DELHI (Reuters) - India must become more self-reliant, after the pandemic disrupted supply chains and showed the risks of depending on exports for essential risks, the finance minister said on Wednesday.

"Even as we want to be linked with the global value chains, we have to understand and take cognizance of the risks it has posed us," said. She said India had to import protective equipment and testing kits during the initial phase of the pandemic.

She said India will need to build manufacturing centers at scale to reduce dependency in the future.

 

(Reporting by Manoj Kumar)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, November 17 2021. 17:04 IST
RECOMMENDED FOR YOU
.