India cannot become the next factory of the world by copying China, Niti Aayog CEO Amitabh Kant said on Thursday, and stressed that the country needs to get into sunrise areas of growth if it wants to be a global leader.
Addressing a virtual event organised by industry body CII, Kant said India’s private sector has to set ambitious targets for itself and focus on green hydrogen, high-end batteries, advanced solar panels to become competitive.
“India cannot become the next factory of the world by copying China…We have always got into sunset areas of growth, this is the time to get into sunrise areas of growth,” he said. According to Kant, India should not get into areas where China is already a leader.
“India has the strongest global companies in the renewable sector…these (hydrogen, high end batteries, advanced solar panels) are areas of technology of growth, if you want to be a global leader,” he noted.
The Niti Aayog CEO said Indian Industry needs to strive to become lean, digital and invest in skills, steep increase in corporate R&D & cutting edge product innovations to be competitive.
“The new technology has to be shared, connected and electric,” he said.