The minister was speaking at the recently held CII Manufacturing Conclave 2022
India will play an increasing role in the revival and restoration of international economies, said Piyush Goyal, Union Minister for Commerce & Industry, Textiles, Consumer Affairs and Food & Public Distribution at CII Manufacturing Conclave 2022.
“We do have international geopolitical uncertainties as we see today on the Ukraine-Russia crisis, but I am very confident that India will play an increasingly important role in the revival and restoration of international economies in the years ahead. In the post-covid world we are going to see a new world order and India, though we may be a $3 trillion economy today, should aspire for very, very bold and aggressive targets. I think we can still aim for the $5 trillion economy by 2026 but it’s not possible unless all of you participate with full gusto in this very, very ambitious plan,” said Goyal in his address through video conferencing.
Goyal called upon the industry champions to invest heavily in labour-intensive sectors.
“You have the power to lift the millions out of poverty, you have the power to give a better quality of life to the underprivileged. Together we can create not lakhs but crores of jobs in the Textiles sector, Agri/Food Processing, there are so many sectors where Labour is an important element of cost, that’s our competitive or comparative advantage that we should leverage,” he said.
Goyal said India needs to focus on our EDGE in Global Competition, – Economies of Scale, Demographic Dividend, Government and Industry focus on Quality & Efficiency. “For ‘Brand India’ to emerge, we need a mindset change towards quality from Compliance to Consciousness,” he said.
