Independence Day: 'Design In India' Next Milestone In Focus After 'Make In India', Says Modi

'Design In India, Design For The World' is set to become the next focus, following the footsteps of the 'Make In India' initiative, Prime Minister Narendra Modi said as he addressed the nation on the 78th Independence Day on Thursday.

Indian standards should become a benchmark for the world, and become and example for the international standards of development in design, and the quality of production.

"India can offer a lot to the world in the field of design," he said in his speech from the ramparts of Red Fort, noting the latent talent in the country's populace.

Amid his address, he also highlighted key developments and milestones that the country has achieved.

Modi said he has noted the growing desire among foreign investors to invest in India since the beginning of his third term in the office of prime minister.

He urged states to take initiatives that will drive foreign investment into the country, and capitalise on this "golden opportunity."

A belief in good governance, trust in the law and order situation, will be sure to attract investors within each state, he said, emphasising on the need for initiatives on the states' part, and not just by the central government.

Speaking about reforms taken by the government, the prime minister highlighted the changes in Indian banking sector, which has now placed the nation's lenders among the world's largest institutions.

He noted that the development in a country's financial ecosystem leads to a strengthened formal economy.

Loans to farmers to purchase equipment, funding the country's startup ecosystem, or education loans needed by the younger populace, have now become easier to access due to the reforms in the banking sector.

Medium, small and micro enterprises have also benefitted from the same, he said.

India has taken multiple steps toward green initiatives, Modi said, such as the ban on single-use plastics, and developments in the renewable energy space.

"We aim for a target of 500 GW capacity of renewable energy by the year 2030," the prime minister stated in his address.

He also stated a target of net-zero carbon emissions from the railways by the same year.

"We have achieved what no other in the G20 group of countries could," he said, highlighted the achievement of targets ahead of what was committed in the Paris accords.

Among emerging sectors, the prime minister noted the developments in semiconductors, mobile manufacturing space and the privatisation of space sector.

He highlighted the close ties of development in the semi-conductor space, and technological advancements. We have started making progress in the semi-conductor mission, he stated in his address.

India has a developed ecosystem for the manufacturing of mobile phones, which are now exported from the country as well, he said, noting how the country used to be reliant on imports.

With an increased focus towards developing the space sector, earlier restrictions on investments have been removed, given the importance of the sector's developments towards the betterment of the country, he said.

Numerous startups are now entering the space sector, he noted, with the launch of multiple private satellites and rockets having taken place already.

Despite the size of budget allocated towards defence related expenses, a substantial part used to be spent on imports of defence related equipment, Modi said.

In the mission towards self-reliance, India has now increased its focus towards becoming a defence manufacturing hub which exports equipment as a turnaround from the earlier paradigm of importing, he said.