Hyd: Rangarajan calls for strategic reserves, stronger domestic production amid global uncertainties

Hyderabad, Oct 31 (UNI) Former RBI Governor and Chancellor of the ICFAI Foundation for Higher Education (IFHE) Dr C. Rangarajan on Saturday called for strengthening domestic production in strategically important sectors, building reserves of critical commodities and reducing dependence on imported energy to safeguard India's economy against global uncertainties. Addressing the 16th convocation of IFHE here, he said India's 'Make in India' initiative should focus on serving international markets while maintaining global competitiveness, rather than pursuing indiscriminate import substitution. Referring to unilateral tariff measures by the United States and the US-Iran conflict, which disrupted shipping through the Strait of Hormuz,…