“Instead of importing finished goods, why not get Chinese companies to manufacture in India through JVs with Indian firms? This will help us build domestic manufacturing capabilities and create much-needed employment,” he said.
Kant also said the world has lost its manufacturing edge and India should use this opportunity to become a global manufacturing hub.
“Swadeshi today is not just about making products for India alone. It’s about integrating India into global value chains and exporting to the world. We cannot just make for India and expect protectionism to shield us. Our products have to compete globally,” he explained.
He stressed that India’s productivity levels need a big push.
“US President Donald Trump’s policies gave India a chance to improve its productivity and manufacturing. We must not lose this window of opportunity,” Kant added.
Discussing globalisation, Kant said the biggest beneficiary was the US, but the global south now has an opportunity to challenge old rules.
“We should rethink the WTO and the distinction between developed and developing countries,” he said.
“Manufacturing will not return in a big way to the US; American workers won’t work 24/7 to make iPhones. The US is now a post-industrial economy.”
For India, the message was clear: manufacturing is key to creating jobs and sustaining growth.
“India must push manufacturing to grow employment and develop a stronger economy,” Kant said.
(Edited by : Ajay Vaishnav)
