Russian defence ministry, Archive in Podolsk, Russia

New Delhi, April 13 NITI Aayog Member, VK Saraswat on Wednesday said the government purchase only indigenous products to create a market for the domestic manufacturers.He also said Prime Minister Narendra Modi's push for indigenous products is going to change the electronics manufacturing scenario in the country.During an interaction with , Saraswat said that the government should create a market for Indian manufacturers by making a policy that it will only purchase indigenous products."We should work for the domestic market as well as the export market instead of working for only one domestic market. But at one point, I want to say at least the Indian domestic market which is controlled by the government is where indigenous products should go."For example, tomorrow 4G, 5G or 6G will be used and for that the government should not take equipment coming from foreign companies. We should take equipment from only Indian companies to create a market for domestic manufacturers. I am only talking about the electronic products whether it is laptops, desktops or communication products," he added.He noted that by adopting only indigenous products policy, the government will create a market for domestic manufacturers and will give a boost to industry.He mentioned that significant changes are taking place now after these PLI schemes have come out in the electronic manufacturing sector."More and more industries are coming up to augment the production today and more industries are increasing value addition, which used to be 10 -20 per cent are now increasing to 25 to 40 per cent. It is a slow process but will take place," he said.Crediting Prime Minister Modi for the hardware, space and drones sector, Saraswat said: "Now, faster indigenous push which our Prime Minister has given is also bringing a large number of start-ups companies. These start-ups are actually going to make a lot of difference in hardware manufacturing. In major shifts in hardware, space, drones, laptops and electronics, a lot of start-ups are coming up that are going to change the scenario as far electronic manufacturing is concerned."Referring to the ongoing conflict between Russia and Ukraine, the Niti Aayog member said that it will have an impact on the global economy and certainly an impact on the electronic industry as lots of materials are supplied by Ukraine."No doubt, the war has an impact on the global economy and on the electronic industry. Ukraine supports the electronic industry in a big way as materials, chemicals and other items come from there, while Russia is a big market and by putting sanctions we are losing a big market," he said.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Russian Defence MinistryFOLLOW

Russian defence ministry, Latest News

Russian Defence Ministry on Thursday said that its warship Moskva has sunk in the Black Sea while being towed amid a storm as the warship was badly damaged by heavy fire and the following detonation of ammunition. ...

Moscow, April 15 Russian President Vladimir Putin underscored the importance of diversifying energy exports as supplies in the ... ...

Italian Foreign Minister Luigi Di Maio called on Thursday for a reform of the European Union veto system, saying several member states are not on board with the idea of a Russian gas price ceiling. ...

Amid the ongoing war between Russia and Ukraine, defence supplies from Moscow are continuing as the Indian defence forces have received a shipment of overhauled aircraft engines and spares. ...

Grandmaster Raunak Sadhwani on Sunday convincingly won The Tiger Cup Blitz Chess Tournament 2022 in Russia ... ...

The Australian government has imposed targeted financial sanctions against 14 Russian-state-owned enterprises while calling upon Russia to withdraw its military forces immediately from Ukraine. ...

Beijing, April 14 BRICS countries have expressed their support for continued dialogue and negotiations between Russia and Ukraine ... ...

New Delhi, April 13 NITI Aayog Member, VK Saraswat on Wednesday said the government purchase only indigenous products ... ...