India, Jan. 28 -- Prime Minister Narendra Modi on Tuesday underlined that the export of raw materials and import of finished products cannot be accepted and that this trend and value addition outside the country was being changed.

Modi called innovation in the service sector and quality products two pillars of the economy's expansion. "The country's rapid growth is not possible only through the export of raw materials. Hence, we are changing the entire ecosystem and working with a new vision," said Modi in his inaugural speech at the two-day Utkarsh Odisha Conclave of investors in Bhubaneswar.

He referred to iron ore exports from Odisha and said his government is working to ensure a related industry comes up in the state. "The minerals ...