How is Piyush Goyal urging industry leaders to transform India into a manufacturing hub?
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Synopsis
Piyush Goyal addresses industry leaders, advocating for India to become a manufacturing powerhouse. He emphasizes self-reliance, quality products, and creating a skilled workforce while encouraging FICCI to adopt ambitious goals. This pivotal moment aims to redefine India’s economic landscape, striving for a vision of Viksit Bharat by fostering innovation and inclusivity.
Key Takeaways
- Piyush Goyal emphasizes the need for India to become a manufacturing hub.
- Focus on self-reliance and quality products.
- Transformation of youth into a skilled workforce is essential.
- The Jan Vishwas Bill aims to simplify business operations.
- Industry bodies should engage beyond elite circles for inclusive growth.
New Delhi, Nov 18 (NationPress) Commerce and Industry Minister Piyush Goyal on Tuesday called on industry leaders to concentrate on establishing India as a domestic industrial manufacturing hub, aiming to fulfill the vision of Viksit Bharat.
During the curtain-raiser event for FICCI's annual general meeting, the minister emphasized that India Inc. must strive for self-reliance by prioritizing quality products, transforming young individuals into a skilled workforce, fostering an investment-friendly environment, and incorporating cutting-edge technology.
He stated, "The government has introduced two versions of the Jan Vishwas Bill, and we are currently preparing the third iteration to decriminalize various legal provisions, thereby simplifying operations for businesses and the general populace."
Commending FICCI for its 98 years of policy advocacy, Goyal remarked that self-reliance has been a cornerstone of the business chamber's principles since its formation.
The Minister added that as FICCI approaches its centenary in 2027, there should be aspirations to become the third-largest economy.
He noted that the government's journey has evolved from "Virasat to Vikas and then Vishwaas". "It is the politics of trust that is driving India towards becoming a developed nation," he mentioned.
Highlighting five essential expectations from the industry, he encouraged industry bodies like FICCI to rigorously evaluate the outcomes of their advocacy initiatives.
Furthermore, the Union Minister stressed the importance of setting more ambitious targets, learning from countries like Korea and Sweden, which have successful industrial growth and business facilitation models. He also urged FICCI to extend its outreach beyond major urban centers to reach India's remote areas.
"Industry bodies should not limit themselves to elite business circles but should broaden their engagement to foster growth nationwide," he asserted, urging FICCI to become what he termed an "uncomfortable leader" that challenges itself and drives India toward excellence.
FICCI president Harsha Vardhan Agarwal reported that India is now growing at over 7 percent, the fastest among major economies, contributing nearly one-sixth of global growth. He emphasized that this transformative phase is increasingly powered by domestic capability, underpinned by policy stability and confidence.
Point of View
It is essential to recognize that Piyush Goyal's call to action represents a significant shift in India's industrial narrative. The emphasis on self-reliance and quality products aligns with national interests, aiming to foster an inclusive and robust economy. By encouraging industry bodies to broaden their engagement, the government seeks to empower local businesses, which is a step in the right direction for sustainable growth.
NationPress
18/11/2025
Frequently Asked Questions
What is the main objective of Piyush Goyal's address?
Piyush Goyal aims to encourage industry leaders to focus on establishing India as a domestic manufacturing hub to achieve the vision of Viksit Bharat.
What key initiatives were mentioned by Goyal?
Goyal highlighted the importance of self-reliance, quality products, skill development for youth, and creating an investment-friendly ecosystem.
What is the significance of the Jan Vishwas Bill?
The Jan Vishwas Bill aims to decriminalize various legal provisions, simplifying the operational landscape for businesses and benefiting the common man.
What does Goyal expect from FICCI?
Goyal expects FICCI to rigorously audit its advocacy efforts and expand its outreach to support industrial growth across all regions of India.
How is India's economic growth characterized currently?
India is experiencing growth rates above 7 percent, making it the fastest-growing major economy, driven by domestic capabilities and policy stability.
