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Bharat Summit 2024: India becomes a significant export center, Congress squandered 4 decades, states IT Minister Ashwini Vaishnaw
Ashwini Vaishnaw, the IT Minister of the Union, alleges that Congress frittered away the initial 40 years of India's independence. If they had properly established the groundwork for the technology manufacturing industry, India could have been a crucial export center quite some time ago.
During his speech at the 2024 News18 Rising Bharat Summit, Union IT Minister Ashwini Vaishnaw responded strongly to the accusations made by the opposition. He also criticized the opposition, asserting that Congress squandered the initial four decades following India's independence.
He continued to explain that immediately following Independence, India's manufacturing and policies were extremely restrictive. Minister Vaishnaw also demonstrated that despite worldwide challenges, India's manufacturing sector is expanding and becoming more robust daily, and it is also generating a significant number of job opportunities.
When faced with claims that India isn't genuinely producing anything, but simply putting things together, Minister Vaishnaw elaborated that each sector has its own developmental timeline. He added that the groundwork for India's production sector should have been established earlier.
"Consider the automobile sector for instance. The inception of this industry in India dates back to the mid-1980s. At first, we had CKDs, which stands for completely knocked-down units. Following that, we introduced SKDs, which refers to semi knocked-down units," stated the minister.
Gradually, we built a network of various part makers, which expanded over time. Subsequently, we began to export. It's a process, and if past Congress governments had established the groundwork for this in the 1970s, India could have been a significant manufacturing hub by now," stated Minister Vaishnaw.
The minister asserted that India's progress was significantly hindered in its initial forty years due to the governance and strategies of the Congress government, which further weakened India's fragile manufacturing sector. According to him, they created a complex system of laws, bureaucracy, and rules, making it impossible for anyone with the resources to establish a manufacturing entity.
"Prior to the 1990s, it was such a dire circumstance that if a producer wished to modify the design of a rudimentary element such as a door handle, they would need to seek approval from an Indian government representative," he went on to say.
"India is currently a significant technology exporter. The nation is at a critical point where the groundwork for its development into a manufacturing hub has been laid. Over the next five years, this growth will only continue," stated Minister Vaishnaw.
Minister Vaishnaw proceeded to demonstrate how India is quickly rising as a global powerhouse in manufacturing. He stated, "Take mobile manufacturing for instance, it has skyrocketed from an insignificant figure to more than USD 55 billion in the past decade. Similarly, the electronics sector is now producing $105 billion, and it's growing at a rate in the double digits."
India has also seen significant growth in its exports. Over a short period of time, India's defence exports have skyrocketed, reaching $2 billion. Considering that there was a time when we had no major equipment export, this progress is quite substantial.
In the same vein, Indian telecom producers exported goods valued at $1 billion, a figure that is rapidly increasing. "It's difficult to grasp, but there was a time when a seasoned professional from the Indian telecom industry, with over 35 years of experience, could never have envisioned that India would have its own telecom manufacturing."
"Currently, we are shipping a variety of products globally. It's evident that the opposing side lacks understanding on this matter," he stated.
Concerning the role of the technology sector in job creation, Minister Vaishnaw responded to the opposition's claims that the growth discussed by the Indian government is without employment generation. He pointed to the data from the EPFO to highlight the overall job increment. Taking into account those who have newly joined, those who have left, and those who have returned to work after a break, the net employment gain was approximately 600,000 individuals per month a few years back.
Currently, the average figure is approximately 1,200,000 per month. This totals to around 14.4 million job openings. Inquire with the opposition party if they believe these figures have been manipulated in any manner. Numerous economists have not only endorsed the method used but also confirmed these figures," he stated.
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