No shift in priority from 'Make in India' to 'Assemble in India', says FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday said that there is no shift in government's priority from 'Make in India' to 'Assemble in India', which will be used as a ground for 'Make in India'. She said both these policies will provide impetus to capacity building and more employment opportunities in the coming years.

She termed the concerns on government's keenness about Assemble in India over Make in India as a misconception. The finance minister said these words while addressing members from the Industry sector at an event organised by CII in New Delhi.

FM Sitharaman asserted that Assemble in India is an avenue that was not explored to its full potential till date by any government. She assured that the government is always exploring more and better ways of promoting entrepreneurship and wealth creation.

Economic Survey's take on Assemble India

Economic Survey tabled in parliament last Friday, January 31, 2020, pointed that Assemble in India is likely to create 80 million jobs in the next 10 years.

Besides, the Finance Minister also said that any duty hike in the Budget 2020-21 is not a method of protectionism but a mechanism to avoid India being a dumping ground for products that can be indigenously produced. She said the government has reduced Income Tax, Corporate Tax and Minimum Alternate Tax all in the same year demonstrating the government's strong will to stand with every section of the economy. Underlining these factors, the minister said that now the government expects the industry to be the engine to pull the economy forward as the government spends is not sufficient.