Union Minister Ashwini Vaishnaw derogates former RBI governor Raghuram Rajan
Union Minister Ashwini Vaishnaw derogates former
RBI governor Raghuram Rajan
Union Minister Ashwini Vaishnaw on Saturday termed former RBI governor Raghuram Rajan a politician “doing shadow-boxing on somebody’s behalf”.
Vaishnaw’s remark sparked after Rajan’s reported statement that India is not manufacturing mobile phones under the Production Linked Incentive (PLI) scheme but is only assembling them.
Vaishnaw further asserted that “when good economists turn politicians, they lose their economic sense. Raghuram Rajan has turned a politician. Now, he should come out in open, fight elections, conduct elections and participate in political activities shadow-boxing is not good. He is trying to do it on behalf of somebody else.
Vaishnaw further added that in the next two years, India will be achieving more than 30 per cent value addition in electronics manufacturing. Besides this three companies will soon manufacture important mobile phone components for the world.
As per Vaishnaw every country that has started manufacturing electronics has followed a path of first bringing Completely Knocked-Down (CKD) components, Semi Knocked-Down (SKD) and assemble the product.
Further, the production of different components happens followed by the production of systems.
The Minister went on to add further that the global supply chain today is so complex that there is no country which can claim to have a value addition of more than 40 per cent.
According to him, 40 per cent is the highest value addition any country can claim for their electronics manufacturing and India will be reaching 30 per cent plus value addition in less than two years.
He went on to quip that this kind of shadow-boxing which Raghuram Rajan is into is a fair thing. He is a very well-polished economist and he requests him to stay either as economist or embrace politics.
Amid the nationwide Bharat Jodo Yatra that stretched from Kanyakumari to Kashmir, the
former RBI governor Rajan had accompanied Congress leader Rahul Gandhi briefly in Rajasthan . In the midst of the
Countrywide march, Gandhi had also interviewed the senior economist.
News Edit K.V.Raman
