Can India Emerge as a Global Manufacturing and Export Hub for Eyewear?
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Synopsis
In a recent meeting, Commerce Minister Piyush Goyal and Lenskart's CEO Peyush Bansal discussed India's potential to become a global leader in eyewear manufacturing. With significant investments and innovative technologies, India aims to enhance its manufacturing sector, contributing to economic growth and improved access to vision care.
Key Takeaways
- Piyush Goyal discusses India's potential as an eyewear hub.
- Lenskart is set to establish one of the largest eyewear manufacturing facilities in Hyderabad.
- The facility will employ advanced technology for high-quality production.
- Invest India is focused on attracting further investments and enhancing manufacturing capabilities.
- The manufacturing sector is vital for India's economic growth.
New Delhi, May 14 (NationPress) Commerce and Industry Minister Piyush Goyal met with Peyush Bansal, Co-founder and CEO of Lenskart, on Wednesday to explore how India can position itself as a global manufacturing and export center for the eyewear industry.
In a post on X, the Union Minister expressed his satisfaction upon learning about the company’s significant social initiatives.
“I had a productive meeting with Peyush Bansal, Co-founder and CEO of Lenskart, where we discussed the potential for India to become a major player in the global eyewear manufacturing and export arena,” stated Goyal.
“I was delighted to discover the company’s impactful social programs aimed at improving access to vision care throughout the nation,” he added.
Earlier this year, in March, the eyewear manufacturer initiated the construction of its manufacturing facility near Hyderabad. This facility is set to become one of the largest eyewear manufacturing plants worldwide.
The new facility will leverage advanced technology to produce eyewear and associated products, aiming to set new benchmarks for quality and innovation in the eyewear manufacturing industry, according to the company.
In addition, the Commerce Minister conducted a thorough review of Invest India at a meeting at Bharat Mandapam in the national capital. He stressed the need to enhance the performance, effectiveness, and efficiency of Invest India to attract more investments into India.
He also explored opportunities for strengthening investor engagement, empowering MSMEs, and bolstering manufacturing capabilities nationwide.
Invest India serves as the national investment promotion and facilitation agency of the Government of India, expediting the approval process for establishing manufacturing ventures by fast-tracking necessary clearances, including land allotment.
The manufacturing sector plays a crucial role in India's economy, contributing around 17 percent to the GDP and employing over 27.3 million individuals. The government aims to boost this share to 25 percent by 2025, propelled by initiatives such as the ‘Make in India’ policy and Production-Linked Incentive (PLI) schemes.
Point of View
It is evident that India is on the brink of becoming a significant player in the global eyewear market. The government's proactive strategies and partnerships with industry leaders like Lenskart not only enhance manufacturing capabilities but also promote accessibility to vision care for millions. This approach aligns with national priorities and fosters economic growth.
NationPress
15/06/2025
Frequently Asked Questions
What is the significance of Lenskart's new manufacturing facility?
Lenskart's new facility near Hyderabad is expected to be one of the largest eyewear manufacturing plants globally, setting new standards in quality and innovation within the industry.
How does the government plan to boost the manufacturing sector?
The government aims to increase the manufacturing sector's contribution to GDP from 17% to 25% by 2025 through initiatives like 'Make in India' and Production-Linked Incentive schemes.
