NEW DELHI: PM Narendra Modi Saturday said that the world has virtually junked globalisation, and underlined the need for India to move towards building a strong manufacturing base and being part of the global value chain, while reaffirming his commitment to reforms.Hitting out at his critics who had attacked govt’s push for self-reliance , PM said: “…Resources such as petrol, diesel, fertilisers, medicines and technology chips are being weaponised..And at such a time, if we had not moved in the right direction for the past decade, guided by the mantra of self-reliance, then we can imagine how we would have faced such challenges strongly.”The comments seemed to refer to the recent closure of the Strait of Hormuz as well as several export restrictions imposed by China and the US, among others.Amid his comments on inward-looking policies across the globe, prime minister Modi sought to position India as an open economy, which was signing a slew of trade deals, and urged businesses and agriculture sector to tap the opportunity offered by these agreements.
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“…today India’s profile is rising significantly. Today, India is becoming an accepted and respected country for the world. India possesses a stable political mandate and a stable government, a vibrant democracy, a robust judicial system and the Constitution of India that guides us all; and now the world has started recognising our strength. And so, after 2014, we have been entering into FTAs with nearly 40 countries ...these trade agreements that have been made are a huge opportunity, and hence I would especially like to tell my MSMEs that we should not miss this opportunity….every product of India should reach the world market; whether it is our textile, our machinery, our medicines, we must not miss any opportunity and must cross the global parameters. We need to offer products that are superior in quality and affordable than what is currently available worldwide.”
