New Delhi: Union Minister of Commerce and Industry Piyush Goyal said on Wednesday that the government, under the leadership of Prime Minister Narendra Modi, is working with a clear vision to support the country’s economic progress.
Speaking at the IndiaEdge event organised by the Confederation of Indian Industry in New Delhi, he underscored the role of innovation, quality, sustainability, design, and efficiency in boosting India’s manufacturing competitiveness.
Goyal pointed to recent growth across agriculture, services, and manufacturing, and noted the diversification of India’s manufacturing into sectors such as electronics, white goods, chemicals, and petrochemicals.
He warned that recent global disruptions have highlighted the need for resilient supply chains and cautioned against overdependence on specific geographies. He urged industry to identify areas where domestic capacity and greater control over supply chains are essential.
He said collaboration across industry would help expand manufacturing output and, in turn, accelerate growth in the services sector. At the same time, he emphasised that India must remain open to competitive practices within the domestic economy as it strengthens its presence in global markets, according to an official statement.
Noting state-level progress, the minister cited Uttar Pradesh and Odisha as examples of regions that have recorded rapid development, creating local opportunities and reducing migration. He invited industry suggestions to simplify procedures, improve regulatory systems, and strengthen the manufacturing environment.
Highlighting regulatory reforms, Goyal referred to efforts to ease compliance, remove obsolete provisions, and modernise legal frameworks, including the introduction of the four Labour Codes. He said 23 States have framed corresponding rules and that the Codes will promote formalisation, ensure minimum wages, and bolster social security and workplace safety.
On MSMEs, he stressed the importance of timely payments, noting that prompt clearing of dues would ease cash-flow constraints and support productivity and growth.
Reiterating the long-standing national focus on Swadeshi and self-reliance, Goyal said that collective action by the government and industry is essential to advance the vision of Atma Nirbhar Bharat and achieve the goal of Viksit Bharat 2047.
