New Delhi: With an eye on the economy of $5 Trillion, Prime Minister Narendra Modi on Monday urged the states’ government to reduce imports and identify opportunities for exports. PM Modi urged people to buy and use locally made goods as much as possible.
The statement issued by the Niti Aayog on Sunday said, “The PM said, states must focus on reducing imports, increasing exports and identifying opportunities for this.”
Prime Minister at the seventh meeting of the Niti Aayog’s governing council on Sunday said, “India’s upcoming G20 presidency in 2023 is a unique opportunity to show that the country is not just Delhi but every state and UT as well. Set up dedicated G20 teams to derive the maximum possible benefit from the presidency.”
The goods and services (GST) collections have improved, and the potential for this to be stepped up further.
India’s merchandise trade deficit hit a record high of $31 billion in July, stretching the overall difference between exports and imports to over $100 billion in the first four months of the fiscal from $42 billion a year ago.
Niti Aayog said, “Modi said India needs to focus on modernized agriculture, animal husbandry, and food processing to become self-sufficient and a global leader in the agriculture sector. focus on making India self-sufficient in edible oil production. India remains the world’s largest importer of edible oil and is heavily dependent on imports. This, along with petroleum crude and gold, is among the country’s biggest import items.”
PM Modi added, “each state should focus on promoting the three Ts – trade, tourism, technology – through Indian missions abroad.”
(Vinayak)
