New Delhi: Minister of Commerce and Industry Piyush Goyal said India must reduce his dependence on “specific geographies” and look at alternative supplies to build resistant supplier chains.
Goyal on Thursday, which concerns India India Energy Week in the new Delhi, said India must also look at newer technologies to reduce imports.
“We need to work to prevent distortion. We need to reduce our dependence on specific geographies and look at alternative sources of offer, where we can have resistance in our supplier chain. We also have to look at newer technologies so that we are not very dependent on imports and we can focus on self -confidence.
He added that critical minerals, semiconductor industry and other strategic sectors are part of the “holistic” ambitions in India for the future.
“Our ambitions cannot only be limited to its own production. The entire value chain, raw materials, battery banks, semiconductors, steering systems, recycling of the device used, the entire value chain is our holistic ambition,” he said.
Goyal also said India was proceeding towards the target to generate 500 gigawatt renewable energy by 2030. He said the government’s efforts to promote solar energy were successful. He proposed a four-point approach to promoting energy efficiency-upgrading to innovation, analysis of coexistence and battery-oriented infrastructure, preventing the supplier chain and focusing on becoming part of a full value chain instead of focusing.
It comes days after Prime Minister Narendra Modi has called for diversified supplier chains in the critical mineral sector to prevent any nation that prevented its resources.
It also monitors India’s obligation as part of the Quad Group to create an initiative of Quad Critical Minerals, which has committed to working on securing and diversification of supplier chains.
Modi, who spoke at the 17th Summit in Brazil on 7 July, said it was important to make critical mineral supplier chains reliable to ensure that no country uses these resources for its own selfish profit or as a weapon against others.
These challenges for supplier chains to be more resistant to the incoming global lack of metal supplies of rare soils and related products due to an export order in China in April.
China has approximately 90-95% of the world’s metal processing capacity, allowing it to use its exports for its own advantage. These rare soil metals and their products are used in strategic sectors such as renewable energy, pure mobility and electronics.
(Tagstotranslate) PIYUSH GYAL (T) semiconductor industry
