President says 7 mega Integrated Textile Regions and Apparel Parks approved
The President Ram Nath Kovind said that the inflow of US$48 billion in investment in the first seven months of the current financial year was a testimony to the belief the global investor community has in India’s growth story.
Addressing the Joint Session of the Parliament on the first day of the Budget Session on 31 Jan 2022, he said the record breaking growth in India’s exports during April to December 2021 shows India’s goods-exports stood at US$300 billion or more than Rs.22 lakh crore, which is one and a half times more than the corresponding period of 2020.
Seven Mega Integrated Textile Regions and Apparel Parks with an investment of about Rs.4,500 crore have been approved to facilitate integrated textile value chain, said the President.
“These mega textile parks will attract both Indian and foreign investors, and create lakhs of new employment opportunities.”
President Kovind said, “Our start-up industry is also an example of the infinite new possibilities that are rapidly taking shape under the leadership of our youth.”
Highlighting the fact that since 2016, 60,000 new start-ups have been established in 56 different sectors and more than 40 unicorn startups have emerged each with market value of Rs.7,400 crore in 2021 despite the COVID-19 impact.
Referring to the Start-ups Intellectual Property Protection Programme, he said that the government has simplified and accelerated the processes related to patents and trademarks. As a result, nearly 6,000 patents and more than 20,000 trademarks have been applied for in this financial year, he added.
Terming infrastructure as the foundation for development in any country, President Kovind said that the government viewed infrastructure as a bridge to address social inequality.
He added that investment in infrastructure not only generates lakhs of new jobs, but also had a qualitative impact, enhancing ease of doing business, facilitating faster transport and promoting economic activities across sectors.
The President said that the government has integrated different ministries to work in a synergised manner under the Pradhan Mantri Gati Shakti National Master Plan to accelerate infrastructure development.
Expressing confidence that the plan was going to usher in a new era of multi-modal transport in India, he said that in the future, the railways, highways and airways in India will no longer be separate and isolated infrastructures, but will be an integrated resource to the country.
Speaking of the rapidly evolving drone technology and related opportunities, President Kovind said that the government was aware and proactive about it.
In this direction, the government has notified the simplified Drone Rules 2021, and has also launched a PLI scheme for manufacturing of drones and drone-parts in the country.
“This will help India to secure its position in this critical technology of the future,” he said. fiinews.com
