New Delhi: Commerce and Industry Minister Piyush Goyal on Wednesday said the government is addressing supply chain issues across all sectors to build resilience, even if it involves spending “extra buck”. Addressing UNCTAD’s Ministerial Roundtable on ‘Towards Resilient, Sustainable, and Inclusive Supply Chains and Trade Logistics’ in Geneva, Goyal said India has launched the ‘Atmanirbhar Bharat’ initiative to make the country self-reliant.
“We are addressing each and every supply chain sectorally to see where our vulnerabilities are, where we need to expand capacity, and we are willing to pay that extra buck to be able to have resilience in our supply chains,” Goyal said.
The government has launched initiatives, like a production-linked incentive scheme to boost domestic manufacturing, and a policy to promote semiconductor production in the country.
To boost infrastructure development, he said, India has launched a trillion-dollar national master plan.
The government itself spends about USD 130 billion every year to expand domestic infrastructure, he said, adding that in this process, in the last 10 years, India has nearly doubled its port capacity, increased the number of airports from 74 to 158 and in the next 7-8 years, “we’ll grow to 225 airports”.
These measures, he said, have helped the country create jobs and boost capacities.