CHENNAI: Industrialist and vice-chairman of India Cements N Srinivasan has said the country, being the second largest producer of cement, has the potential of becoming a manufacturing hub for many products other than cement. Speaking at a function here, he said, “India is marching towards becoming self-reliant and a strong manufacturing base.”
According to Srinivasan, present at the inauguration of a new office set up here for the South by the Asian-Arab Chamber of Commerce, the country has emerged as a big market for manufactured products and services besides being a significant exporter of information technology.
“In the last 10-15 years, India has seen a big transformation especially under the leadership of Prime Minister Narendra Modi,” he said. Terming the union budget presented by Finance Minister Nirmala Sitharaman as “path-breaking”, he said the budget seeks to address the envisages spending a lot of money on development in every sphere, including infrastructure and housing.
He also invited investors in Asian and Arab countries and other parts of the world to invest in infrastructure and other sectors in India. “India is the second largest producer of cement after China. India has the scope for becoming a manufacturing hub for many other products,” he added.