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India Will Not Follow Protectionism Policy: Sibal
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The minister said in Barcelona that the Indian government wants to provide a level-playing field to all electronics manufacturers.
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Wednesday, February 29, 2012:
Doing away with its fear of foreign electronics manufacturers, India has now decided that it will not pursue protectionism policy and would rather allow an equal place to all participants.
On Monday, Kapil Sibal, telecom minitser, said in Barcelona, "Look at the policies of world around, we are far less protectionist than any other country in the world. There is no question of India becoming protectionist."
An electronics manufacturing policy is being finalised by the Indian government in order to encourage the use of equipment made in India, which will cut down on the country's import bill.
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Sibal told PTI, "There has to be a level playing (field) among players. (Does) India have level playing when foreign companies enter? They need to see that." Some time back, the government had given its approval for a proposal that electronic products having 25 per cent content from India should get preference in government procurement in the first year. Sibal also said that the government wants to reduce India's dependency on imports over a period to cut trade deficit.
He said, "We must make sure that in ultimate analysis, India does not have to import everything. Like other countries have done ... they have revved (revamped) their manufacturing capacities. That's exactly what we want." He also said that India's import bill in this area itself would reach $300 billion by 2020 if the country did not build manufacturing capacity.
The addition of local value should be increased by 5 per cent every year to a maximum of 45 per cent over a period of five years. Sibal would be meeting telecom industry leaders and senior government officials of different countries during his week's trip.
Sibal said, "We are here to build confidence among investors...fact that India is market with enormous depth. Market itself is unsaturated, the investors should have confidence that India market has enormous potential and we will ensure that there is clarity of policy, so that they can make there long term plan and be in market for both, the good of their consumers and their own good."
Upasana Rajpal, EFYTIMES News Network
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Daily App Review: Klik For iPhone |
| Among all the gadgetry on display in Mission Impossible IV, perhaps the most striking was an iPhone app that could identify people who appeared on the... |
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