Prime Minister Narendra Modi made a significant announcement during the Norway-India Business and Research Summit held at Oslo City Hall, emphasizing India’s commitment to enhancing its manufacturing capabilities on a global scale. He introduced a series of aggressive incentives aimed at boosting the country’s manufacturing sector.
Focusing on the shipbuilding industry, which he described as a strategic asset, Modi noted that India currently constructs nearly 10% of Norway’s ships. He set an ambitious goal to increase this figure to 25% within the next five years, showcasing India’s potential in this critical sector.
To support this growth, Modi outlined a comprehensive ecosystem that includes green shipping initiatives, maintenance, repair, and overhaul (MRO) hubs, as well as strategic manufacturing clusters. He encouraged global investors to take advantage of India’s political stability and proactive policy environment, positioning the country as an attractive destination for investment.
This initiative marks a pivotal moment in India’s manufacturing landscape, with the government actively seeking to enhance its global footprint and foster international partnerships in key industries.
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