Union Commerce and Industry Minister Piyush Goyal underscored the central role of innovation, quality, design, sustainability and efficiency in enhancing India’s manufacturing competitiveness while speaking at the IndiaEdge event organised by the Confederation of Indian Industry in New Delhi. He said the Government, led by Prime Minister Narendra Modi, is committed to accelerating economic progress and highlighted the momentum recently seen across agriculture, services and manufacturing. India’s manufacturing landscape, he noted, has broadened into high-growth sectors such as electronics, white goods, chemicals and petrochemicals.

Goyal said industry must stay agile amid global disruptions that have highlighted the need for resilient and diversified supply chains. He cautioned against excessive reliance on specific geographies and called for strengthened domestic capacity in strategically important sectors.

He emphasised that collaboration across industries is essential to expand manufacturing output and observed that faster growth in manufacturing will have a multiplier effect on the services sector. As India deepens its global market presence, he said, it must also uphold healthy competition within its domestic economy.

Pointing to rapid development in states like Uttar Pradesh and Odisha, Goyal said rising opportunities are contributing to reduced migration. He urged industry leaders to share recommendations on simplifying processes, strengthening regulatory systems and enhancing the business environment. The Minister noted that the Government is working to streamline compliance, remove obsolete regulations and modernise legal structures, including through the four Labour Codes, for which 23 States have already framed corresponding rules. These reforms, he said, will promote formalisation, ensure minimum wages and reinforce workplace safety and social security.

Goyal also stressed the importance of timely payments to MSMEs to support their cash flow and productivity. He said India’s longstanding focus on Swadeshi and self-reliance continues to remain relevant and added that the combined efforts of industry and Government will be key to advancing Atma Nirbhar Bharat and achieving the vision of Viksit Bharat 2047.

News source: PIB