July 13, 2020: To cut dependency on imports and align with the government’s self-reliance objective, Mr Mansukh Mandaviya, Union Minister of State for Shipping (Independent Charge), has exhorted domestic companies to step up manufacturing of critical products like cranes for cargo handling at ports, while virtually interacting with select CEOs from the northern region in an event organised by CII. He also stressed on enhancing local production of active pharmaceutical ingredients (APIs) used in formulations of medicines.
The Minister pointed out that rather than spending a significant amount annually to import cranes, Indian industry should come forward in this area and build the equipment in joint ventures. This will not only create employment but would also result in self-sufficiency.
He also stressed on the need to reduce logistics cost and highlighted that the government is developing a network of inland waterways in the country, which will bring down the logistics cost for the industry.
Source: Exim Inda Online
