FM Nirmala Sitharaman extends warm welcome to international firms

In an exclusive talk, FM Nirmala Sitharaman told Network18 that the government welcomes all international firms and entrepreneurs to come and make in India.

Finance Minister Nirmala Sitharaman recently reiterated the government’s commitment to transforming India into a global manufacturing hub during an exclusive interaction with CNBC-Awaaz. 

She emphasized India’s skilled workforce and cost advantages as compelling reasons for global companies to establish manufacturing operations in the country.

Appeal of Manufacturing in India

When asked about the potential impact of Tesla Inc.’s entry into India on the country’s manufacturing appeal, Sitharaman expressed optimism. 

She highlighted India’s conducive business environment, skilled youth, and cost-effective manufacturing capabilities, welcoming all companies and entrepreneurs to participate in the “Make in India” initiative.

Positive Boost to Manufacturing Environment

Sitharaman emphasized that the interest shown by major manufacturing giants, like Tesla, in establishing operations in India signals a positive shift in the manufacturing landscape. 

She noted that the presence of high-tech companies reflects the effectiveness of India’s policies and serves the country’s interests by facilitating exports overseas.

Atmanirbhar Bharat Initiative

India’s ambition to become a manufacturing hub has gained momentum through the Atmanirbhar Bharat agenda, according to Sitharaman. 

This initiative aims to promote self-reliance and has already led to significant growth in defence exports, surpassing Rs 25,000 crore. The government’s focus on manufacturing is aligned with efforts to boost GDP and exports, with the Atmanirbhar mission playing a crucial role in driving these objectives forward.