Sunil Bharti Mittal stated that the PLI scheme has generated momentum not just in India but also for global companies looking to enter the country.

New Delhi [India], October 21: Sunil Mittal, Founder and Chairperson of Bharti Enterprises Ltd, remarked that the Centre's initiatives, such as the Production-Linked Incentive (PLI) scheme, are generating significant momentum in the manufacturing sector, not just within India but also attracting global companies to the country.

"Our government is actively promoting manufacturing. The PLI scheme is driving remarkable momentum, drawing global corporations to India for manufacturing... during this government term, we will witness the realization of semiconductor production," Mittal stated on the sidelines of the NDTV World Summit 2024 on Monday.

During his speech at the Summit, Mittal highlighted the global expansion of Indian businesses and the increasing economic influence of the country. He commended efforts to elevate Indian brands on the world stage and acknowledged India's growing manufacturing and export capabilities.

He noted that electronics, hardware, and software manufacturing are among India's strengths in this sector. "We must showcase Indian culture, ethos, and commitment. That is my current focus—expanding Airtel and all Bharti Enterprises into international markets. We need to take India to the world," Mittal emphasized.

He remarked that India has transformed into a hub where products are produced and consumed locally, with an expanding export potential.

Mittal praised companies like Tata for spearheading global expansion, particularly in Europe and South Africa, while sharing Airtel's experience of becoming a leading Indian brand abroad. "In 2010, we made a bold decision to enter 15 countries in Africa. Today, we operate in 14 sub-Saharan nations, along with Sri Lanka and Bangladesh," he explained, highlighting Airtel's significant presence in these regions, serving nearly 160 million customers.

"We realized that to acquire our next 100 million customers, we had to look beyond, to places like Africa, where we now have almost 160 million customers across these 14 countries, with the youth increasingly adopting new technologies," Mittal noted.

He pointed out that Indian investments are being more positively received internationally compared to nations like China, which faces growing scrutiny. "Indian money is welcomed abroad, unlike our neighboring country, China, whose investments often encounter obstacles. Even Middle Eastern funds face stronger filters due to their sovereign backing," he said.

Mittal observed the rising number of Indian companies expanding overseas, stating, "We're seeing GMR building airports abroad, Adani venturing into Kenya, Godrej expanding internationally, Bajaj going global, and Hero Motors making strides outside. The emergence of global companies from India is becoming more pronounced."

Looking to the future, Mittal expressed optimism about India's demographic dividend, stating, "By 2030, India will have 1 billion people of working age, which signifies great opportunities and immense consumption potential. However, these individuals need jobs."

He added, "There are other sectors, such as tourism and the new e-commerce industry, that will generate many jobs, but for any nation to achieve true economic power, a strong manufacturing base is essential. I'm pleased that we are finally getting this manufacturing aspect right."

Emphasizing the necessity of developing digital infrastructure to support this growth, he mentioned, "My company invests between Rs 30,000 crores and Rs 35,000 crores annually in creating digital infrastructure."