Union Minister Nitin Gadkari pitches for more R&D to identify Import substitutes

NAGPUR: Union MSME Minister Nitin Gadkari has pitched for more research to identify products that can be indigenously manufactured as cost-effective import substitutes.

The industries and industrial associations should do more research to identify these substitutes to curb imports, he added.

Instead of importing spare part, the industry should help their vendors to find an indigenous replacement, Gadkari said in a virtual meeting recently.

He was speaking at the inauguration ceremony of Atmanirbhar Innovation Challenge organised by Marathwada Accelerator for Growth and Incubation Council (MAGIC).

It is a branch of industrial association Chamber of Marathwada Industries and Agriculture (CMIA).

While identifying crucial products being imported into the country, the focus should be on how they can be manufactured here, he said.

The industry should help and support their vendors to create all types of parts in India, Gadkari added.

Initially, there could be 10-20 per cent rise in prices for the substitute, but when it will start production in large volumes, the industry can get those parts at a reasonable price,
he said.

Now, it is the time to make import substitutes that will be indigenous, cost-effective and pollution-free, the Minister noted.