Indore (Madhya Pradesh): Union finance minister Nirmala Sitharaman said that India is not only looking for being the ‘plus one’ which the world is looking for in the ‘China+1’ but also pitching to become the ‘plus one’ for the ‘European Union+1 (EU+1)’.
“People who invested in China may want to continue there but may also want to find another source from where they can produce and be a part of the global world. We are actively making sure to become the ‘Plus 1’ of the ‘China+1’ which the world is looking for. Similarly, we are also working to make sure that India becomes the plus one for EU+1,” she said.
Addressing the plenary session on ‘Harnessing the Potential of Women Diaspora Entrepreneurs towards an Inclusive Approach to Nation Building’ on the concluding day of Pravasi Bhartiya Divas Convention, Tuesday, Sitharam said, “Our efforts are to make sure to attract the industries to come up to India if they look for elsewhere other than in Europe.”
“Ensure choosing for Indian made goods and services to support the growth of the country in Amrit Kaal. I also want to invite the Indian diaspora to partner with Indian businesses whether it is nano, small, micro, or large so that they get their potential in entrepreneurial skills to grow by 2047,” she said.
Speaking on the contribution of the Indian Diaspora in the development of the country’s economy, Sitharaman said that Indians are not only contributing to the country’s economy but also to the world’s economy.
“The remittance which came from abroad in 2022 is about 100 billion dollars. It was the highest remittance to India in a year which also sees a growth of 12 percent from 2021 to 2022. Similarly, a NASSCOM report says that we are contributing to the economic growth of US too as the Indian IT companies have recorded a business of 396 billion dollars and contributed 198 billion dollars in the US economy,” the finance minister said while highlighting that India is looking forward for four ‘I’s to grow in next 25 years i.e., Infrastructure, Investment, Innovations, and Inclusion.
“If you buy a car anywhere in the world, at least one product in it is made in India. Major global capacity centers are also being set up in India like Lockheed Martin Corporation is producing wings of F-16 fighter jets in India and exporting it to the assembly points. Similarly, Airbus has also planned to manufacture the C-295 aircrafts in Gujarat.” She added along with quoting the examples of India’s IT power and development in semiconductor chip designing.
The finance minister appealed to the Indian Diaspora to promote the products of their respective districts in India developed on the theme of ‘One District One Product’ to the world to help increase their exports.
Meanwhile, Mitu Bhowmick Lange, director of Mind-Blowing Films and Director of IFFM (Australia), Sajani Anaka Reddy, Co-founder and executive director of Vision Care Group or Companies (Zambia), Kavita Parmar, founder and director of IOU (Spain), Poonam Gupta, entrepreneur and CEO of PG Paper (UK), Devaki Khimji, managing director of Al-Turki and Al-Tasnim groups (Oman), and Maria Siddiqua Ashraf, director of Contofield International School (Tajikistan) also shared insights in the session.
