India is far behind its competitors in its fight against the coronavirus pandemic and is facing a significant problem in terms of the production of fiber for its households.
Fiber, the material used to make our food, is also a key driver of India’s economic growth, the Finance Minister Arun Jaitley said on Friday.
The country has been investing in the sector and is expected to grow at 6.4 per cent this fiscal.
“This is the biggest economic sector in the country.
We are leading in the production and we are leading globally,” he said, adding that India had invested more than $400 million in the field.
The minister said that the government was also working towards introducing inulin fiber.
It will cost Rs1,000 per gram, but that could be reduced by making it into 100-gram packets, he said.
India has set an ambitious target of producing 200 billion packets a year by the end of this year.
Jaitley also announced that the country has set up an Innovation Center at the National Institute of Science and Technology in New Delhi to develop technology that will be used in healthcare.
The center is looking at how to transform the industry, he added.
India, a country of 12.5 million people, has been struggling to contain the coronAV-19 pandemic that has been sweeping the country for the past few months.
The government is also trying to boost production of the material, which has helped in the fight against coronaviral disease.