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  3. India must scale up manufacturing sector, establish its own robust supply chain: Dammu Ravi

India must scale up manufacturing sector, establish its own robust supply chain: Dammu Ravi

29 Jul 2025 Evaluate

Dammu Ravi, Secretary (Economic Relations), Ministry of External Affairs, has emphasised the importance of partnerships to accelerate India’s economic growth. He said India must scale up its manufacturing sector and establish its own robust supply chain, which will subsequently boost exports. He noted that India needs to have partners to achieve high rates of growth and the country also needs to create its own supply chain. 

He said global dynamics have now shifted from the Transatlantic to the Indo-Pacific. India needs to grow at a higher rate to meet the target of becoming a developed country by 2047. He said the GDP of the country is growing. He also said ‘we are $4 trillion economy now and the country needs to grow at more than the current average growth rate of 6.5 per cent per annum to become a developed economy to meet that target’. He added that the country has moved from a command economy to a liberalised economy.

He further said the openness had brought a boom in the economy. The private sector has leapt forward. The country also needs to do a lot. Touching upon technological transformation, he said the world has moved from the industrial revolution to an era driven by artificial intelligence (AI). He said ‘we have entered an AI-driven era. Today, we talk about responsible AI. Rules are needed so that human values are not undermined.’ He added that India needs to create an AI ecosystem, which requires state intervention to ensure uninterrupted power supply. Talking on the issue of logistics, he stressed the need to bring down costs. He said ‘India’s logistics cost is 12 per cent of GDP. This must be reduced to boost efficiency. Our industry needs to conquer overseas markets’. 

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