External Affairs Minister S Jaishankar spoke at a book release event on Wednesday, calling for businesses in India to stop searching for a “China fix” and instead focus on boosting the country’s domestic manufacturing sector. He emphasized that no major country has sustained its global position without building up its manufacturing capabilities, and that India should not allow other businesses to enjoy advantages in the country at the expense of its own. Jaishankar discussed the government’s efforts to build deep manufacturing supply chains, which he sees as necessary for sustained economic growth. He also stressed that strong business is critical for national security and strategic direction.
Jaishankar highlighted the importance of supporting the domestic manufacturing sector and criticized the idea of allowing level-playing fields for others who subsidize their production. He noted that services cannot be an excuse for incompetence in manufacturing and that India must develop its own solutions to economic challenges. The external affairs minister also mentioned the Production Linked Incentive Scheme (PLI) as part of the government’s efforts to energize the economy and motivate businesses to believe in the possibility of manufacturing in India.
In his remarks, G20 Sherpa Amitabh Kant discussed various aspects of the India growth story and the way forward.
