India raises bar against China at WEF with stakes in supply chains
By Our Special Correspondent
New Delhi, January 20: The India story is being told at the ongoing World Economic Forum in the snow city of Davos, Switzerland loud enough for the world capitals to listen to the bid to take the third slot in the global economy in the next 15 years. India currently is the fifth largest economy with a size of $3.5 trillion.
Scores of Union Ministers, bureaucrats are lining up at the event, while the state governments too have set up their stalls with their own battery of ministers and officials. Indian businessmen, including the chief executive officers of the startups too have landed at Davos.
The theme from India is clear that the country wants to raise the stake in the global supply chains. Hints are clear that India will be a credible alternative to China in maintaining the robust supply chains. India is offering the world glimpses into its roadmap to become one of the large telecom equipment suppliers, and also counter China in exporting trainsets to the developing nations.
“India will be a large telecom equipment exporter three years from now. Educational institutions have partnered with us and changed the course curriculum for generating semiconductor talent in India,” said Union Minister Aswini Vaishnaw at Davos.
He stated that India’s semiconductor policy supports mature nodes as well as advanced nodes. “New plants and new fabs that India will set up, will be served with green energy,” added Vaishnaw, who holds the portfolio of Telecommunications and Railways. The minister also stated that India is on track to become a major exporter of train sets in the coming three years. It may be recalled that India had floated a global tender to import semi-high speed train sets, but in the recent years the country has turned the table to manufacture the train sets, which have been branded as Vande Bharat.
India recently attracted two big ticket foreign direct investment in the semi-conductor which went to Karnataka and Gujarat, while a number of Indian companies, besides startups have also entered the semi-conductor space to seize the opportunity as the global businesses seek to de-risk their profile from an uncertain China.
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