<p>New Delhi: Stressing on the need for value addition and strengthening manufacturing, Prime Minister Narendra Modi on Tuesday said he would not accept raw materials getting exported and finished products getting imported in the country.</p><p>“Minerals are extracted here and exported to some other country where value addition is done and new products are made. These finished products are then sent back to India. This trend is not acceptable to Modi,” the prime minister said at Utkarsh Odisha Conclave in Bhubaneswar.</p>.India's exports to US up 5.57% to Rs 5,17,200 crore in April-December FY25.<p>He said the country’s progress cannot rely on the export of raw materials. “We are changing the entire ecosystem and working with a new vision,” he added.</p><p>Interestingly, India is dependent on import of steel despite being one of the largest producers of iron ore. India's imports of steel surged by 41% year-on-year in the first six months of 2024-25 while exports dipped by 36% during the period.</p><p>The biggest concern is the trade mix with China. India's import of finished steel from China surged to a seven-year high in April-December 2024 period. On the other hand, iron ore remains among the key India's exports to China.</p><p>India is also among the major exporters of seafood and agricultural products. The prime minister claimed that his government has taken measures to change the practice of exporting seafood for processing in other countries.</p><p>Modi said the government was working to ensure that industries related to the resources in Odisha are established within the state.</p><p>“I consider eastern India as the growth engine of the country, with Odisha playing a crucial role in this. History shows that during times when India significantly contributed to global growth, eastern India also made important contributions," he said.</p>
<p>New Delhi: Stressing on the need for value addition and strengthening manufacturing, Prime Minister Narendra Modi on Tuesday said he would not accept raw materials getting exported and finished products getting imported in the country.</p><p>“Minerals are extracted here and exported to some other country where value addition is done and new products are made. These finished products are then sent back to India. This trend is not acceptable to Modi,” the prime minister said at Utkarsh Odisha Conclave in Bhubaneswar.</p>.India's exports to US up 5.57% to Rs 5,17,200 crore in April-December FY25.<p>He said the country’s progress cannot rely on the export of raw materials. “We are changing the entire ecosystem and working with a new vision,” he added.</p><p>Interestingly, India is dependent on import of steel despite being one of the largest producers of iron ore. India's imports of steel surged by 41% year-on-year in the first six months of 2024-25 while exports dipped by 36% during the period.</p><p>The biggest concern is the trade mix with China. India's import of finished steel from China surged to a seven-year high in April-December 2024 period. On the other hand, iron ore remains among the key India's exports to China.</p><p>India is also among the major exporters of seafood and agricultural products. The prime minister claimed that his government has taken measures to change the practice of exporting seafood for processing in other countries.</p><p>Modi said the government was working to ensure that industries related to the resources in Odisha are established within the state.</p><p>“I consider eastern India as the growth engine of the country, with Odisha playing a crucial role in this. History shows that during times when India significantly contributed to global growth, eastern India also made important contributions," he said.</p>