(PTI)
Union Minister Nitin Gadkari on Tuesday said the government is considering introducing a policy on import substitution and urged India Inc to upgrade technologically and come up with cost-effective substitutes to reduce the country’s inward shipment.
The Minister for MSME and Road Transport and Highways said a policy on import substitution is being thought of in the wake of the economic situation created by the COVID-19 pandemic. Gadkari said the industry may not be shut for a long time, and several relaxations could be given by the end of May. He urged various stakeholders to convert knowledge into wealth by improving quality through innovations and cutting cost.
