Cannot rely on imports for essentials: FM

India must become more self-reliant, after the pandemic disrupted supply chains and showed the risks of depending on imports for essential goods, the Finance Minister said on Wednesday.

“Even as we want to be linked with the global value chains, we have to understand and take cognisance of the risks it has posed us,” Nirmala Sitharaman said.

She added that India had to import protective equipment and testing kits during the initial phase of the pandemic.

Ms. Sitharaman said India would need to build manufacturing centres at scale to reduce dependence in the future.

Source: Read Full Article