Piyush Goyal Urges Industry To Strengthen Quality Standards, Appoint Representatives

He also highlighted that the government’s flagship PLI scheme, covering 14 sectors, has attracted investments worth Rs 1.46 lakh crore, bringing with it critical technologies

The scheme has already led to the export of products worth Rs 4 lakh crore

Source : PTI

Union Commerce and Industry Minister Piyush Goyal highlighted the need to raise quality standards in India, urging the industry to leverage its technical committees and appoint representatives to ensure these standards are met.

The union minister also urged industry leaders to take a more proactive approach in collaborating with the government to reduce compliance burdens and decriminalise laws that hinder business growth, thus improving the ease of doing business. He further encouraged the industry to utilise the Rs 1 lakh crore allocated by the government under the newly operationalised Anusandhan National Research Foundation (ANRF) to foster innovation and build a research-driven ecosystem in the country.

"India will not only be a trusted partner but also a provider of quality goods. This will be a potent combination defining our journey towards a Viksit Bharat," Goyal stated at the Federation of Indian Chambers of Commerce and Industry (FICCI) 97th Annual General Meeting and Convention.

Amardeep Singh Bhatia, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), who also attended the event, announced that the government plans to establish more industrial parks in Tier-II and Tier-III cities. A framework for this is set to be ready by the end of the year.

“We have notified 11 industrial corridors. In these corridors, we have central (government’s) level 20 smart industrial townships planned out. In addition, a lot of other sectoral parks have been set up. We plan to facilitate more industrial parks in Tier-II and Tier-III cities. We have had consultations with the industry,” Bhatia added.

He also highlighted that the government’s flagship Production-Linked Incentive (PLI) scheme, covering 14 sectors, has attracted investments worth Rs 1.46 lakh crore, bringing with it critical technologies.

The scheme has already led to the export of products worth Rs 4 lakh crore.

The Rs 1.97 lakh crore PLI scheme aims to establish India as a manufacturing hub, enhance the cost competitiveness of locally produced goods, create jobs, reduce reliance on cheap imports, and boost exports. It has been launched across 14 sectors, including mobiles, drones, telecom, textiles, automobiles, white goods, and pharmaceuticals, among others.

The secretary also encouraged the industry to take full advantage of India’s relaxed foreign direct investment (FDI) policy and explore collaborations to access new technologies and markets.

Regarding the Startup India program, there are currently 1.53 lakh registered startups in the country. “We are also pushing for deep tech startups to be facilitated by looking at their long-term financing needs. We are also hopeful that startups will be able to take advantage of research funds announced by the Budget,” Bhatia opined.