NEW DELHI
NITI Aayog on Tuesday sought to dispel the fear that India is favouring a closed economy by promoting ‘Atmanirbhar’ mission, and said the country can achieve better results for its people by having a deeper engagement with the global supply and value chain.
Inviting Japanese investors to set up companies in India on a larger scale under the recently launched production linked incentive (PLI) schemes, NITI Aayog Vice-Chairman Rajiv Kumar said India remains very deeply committed to greater integration with global flows and the regional network.
“We would want the Japanese companies to come and make India an export hub to the rest of the world under the PLI scheme. I think the environment is there to develop it because on the Indian side we have done, and we will continue to do whatever is required to attract Japanese investment into India.”
“I do want to take this opportunity to dispel any fear at all that the production linked incentive scheme for the Atmanirbhar, the self-reliant India– a call given by the prime minister as a response to the Covid situation and for our economy to come out of it– I want to dispel the fear that it is in any sense leading us towards a closed economy,” Kumar said while speaking at a webinar on the 10th ICRIER-PRI workshop on ‘Policy Responses to COVID-19 in India and Japan and Prospects for Economic Cooperation Going Ahead’.
He said there is no question at all for India to move back from its engagement with the global economy, trade, services, financial and technological aspects among others.
