Indian PM stresses need for developing electronics, telecommunications
NEW DELHI, Dec. 5 (Xinhua) -- Indian Prime Minister Manmohan Singh Thursday stressed that the country needed to develop a strong domestic manufacturing base in electronics and telecommunications so as "to avoid difficulties in financing these imports".
"India needs to develop a strong domestic manufacturing base in electronics and telecommunication. It is estimated that by 2020 India will be importing electronics product worth 300 billion U.S. dollars, which will be more than the value of our oil imports," the Prime Minister said.
Singh was addressing a gathering after inaugurating 'India Telecom 2013' seminar organized by the Department of Telecommunications and industry body FICCI in the national capital.
He added: "We need to act now to avoid a situation where we face difficulties in financing these imports. India should have manufacturing facilities which result in a balanced trade in electronics products and are part of global supply change."