New Delhi [India], March 29 (ANI): Supreme Court Bar Association President and Rajya Sabha MP Kapil Sibal on Saturday addressed the special plenary session of the Union Internationale des Avocats (UIA), where he emphasized the urgent need for large-scale skill development, economic reforms, and infrastructure improvements to boost India's manufacturing sector.
Sibal highlighted the challenge of skilling India's youth, stating, "We, in India, need to skill our youth, and that is the challenge we have. Because unless we skill about 500 million people in this country, we will not be able to really take advantage of the great opportunity before us."
Reflecting on India's skill development program, he said, "When I was minister, I started it and took it forward. That skill development program has not reached the expected levels. So we need to work hard on that."
He also pointed out financial and logistical inefficiencies affecting manufacturing.
"We need to work hard on the cost of capital, which is very high in India compared to anywhere else in the world. That affects product pricing. We need more efficient logistics to reduce export costs. We are building a national manufacturing pipeline, but its progress is slow," he said.
Sibal stressed the need to remove barriers to industrial growth. "It's time to let industry and economic activity flourish. If you bring about impediments, you will not reach your goal," he noted.
He elaborated on the challenges and potential of India's manufacturing sector. "While India's economy continues to grow rapidly, the manufacturing sector's potential remains untapped. Structural inefficiencies and financial constraints are big challenges. With targeted reforms, innovation, and improved global competitiveness, India can meet these challenges and emerge as a global manufacturing powerhouse," he said.
Sibal emphasized that strengthening the manufacturing sector would create jobs and improve India's strategic and economic standing. "The time to act is now, and with a clear vision and constructive reforms, India can truly realize its ambition of becoming a manufacturing hub in the world," he added.
Urging India to move beyond mere assembly work, he stated, "Let us build an India that doesn't just assemble but designs, innovates, and leads. Together, we can forge a future where 'Made in India' is synonymous with quality, resilience, and sustainability." (ANI)