+
Piyush Goyal holds interaction with PLI beneficiaries at Bharat Mandapam
ECONOMY & POLICY

Piyush Goyal holds interaction with PLI beneficiaries at Bharat Mandapam

Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Piyush Goyal held an interaction with Product-Linked Incentive (PLI) beneficiaries at Bharat Mandapam, New Delhi. During the opening interaction, the minister welcomed constructive criticism from the various industrial sectors for better facilitation and manufacturing growth in the country.

In a bid to facilitate better functioning and synergy between the Government and the sector, the minister asked for constructive criticism and consultation but at the same time cooperation from the beneficiaries who were in attendance at the meeting. Goyal, further, emphasised that the government has its own constraints and restraints as they also face CAG Audit and expressed his belief in the transparency of paperwork where there is no scope for irregularities neither from any minister nor any government officials. Emphasising about maintaining collaboration between the Government and the beneficiaries and also amongst them, Goyal said that supporting each other will benefit the country and help make India into a manufacturing powerhouse.

The minister clarified that the PLI scheme is not to make the beneficiaries dependent on government services but can be utilised as a boost in the manufacturing sector, an initial support for the long journey ahead. Ultimately competition will prevail, emphasised the minister as he urged them to be more outward looking in terms of scaling their businesses and not only be catering to the domestic market. The minister said that to become a global player is important for businesses in India to be recognised and for that they have scale their volume which would also help them to be cost-effective.

Goyal, during his interaction, said that he believes that every PLI beneficiaries present at the meeting have the potential to become success stories.

Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Piyush Goyal held an interaction with Product-Linked Incentive (PLI) beneficiaries at Bharat Mandapam, New Delhi. During the opening interaction, the minister welcomed constructive criticism from the various industrial sectors for better facilitation and manufacturing growth in the country. In a bid to facilitate better functioning and synergy between the Government and the sector, the minister asked for constructive criticism and consultation but at the same time cooperation from the beneficiaries who were in attendance at the meeting. Goyal, further, emphasised that the government has its own constraints and restraints as they also face CAG Audit and expressed his belief in the transparency of paperwork where there is no scope for irregularities neither from any minister nor any government officials. Emphasising about maintaining collaboration between the Government and the beneficiaries and also amongst them, Goyal said that supporting each other will benefit the country and help make India into a manufacturing powerhouse. The minister clarified that the PLI scheme is not to make the beneficiaries dependent on government services but can be utilised as a boost in the manufacturing sector, an initial support for the long journey ahead. Ultimately competition will prevail, emphasised the minister as he urged them to be more outward looking in terms of scaling their businesses and not only be catering to the domestic market. The minister said that to become a global player is important for businesses in India to be recognised and for that they have scale their volume which would also help them to be cost-effective. Goyal, during his interaction, said that he believes that every PLI beneficiaries present at the meeting have the potential to become success stories.

Next Story
Infrastructure Urban

Budget Proposal Aims to Boost Investments

The recent budget proposal has introduced measures designed to promote investments and generate job opportunities across various industries, as reported by the Economic Times. This initiative seeks to stimulate economic activity and strengthen the country's growth trajectory by encouraging both domestic and foreign investments. Key aspects of the proposal include targeted incentives for sectors poised for expansion, such as renewable energy, infrastructure, and technology. The government aims to create a more favorable investment climate by offering tax benefits, subsidies, and streamlined reg..

Next Story
Infrastructure Urban

Indian Financial System Resilient Amidst Challenges

The Reserve Bank of India (RBI) Deputy Governor M. Rajeshwar Rao has emphasized the robust nature of the Indian financial system despite global economic headwinds, according to Economic Times. Rao?s comments reflect confidence in the stability and resilience of India's financial sector amidst a backdrop of international economic uncertainties and financial volatility. Rao highlighted that India?s financial system is well-equipped to handle external shocks due to its solid regulatory framework and prudent risk management practices. The country?s banking sector has demonstrated resilience throug..

Next Story
Infrastructure Energy

SC Allows State Tax on Mines, Minerals

Opposition leaders have welcomed the Supreme Court's recent decision permitting states to levy taxes on mines and mineral-bearing lands, as reported. The ruling is seen as a significant victory for state governments seeking greater control and revenue from natural resource extraction within their jurisdictions. The Supreme Court?s decision empowers states to impose taxes on mining operations and mineral-rich lands, which could enhance their revenue streams and enable better management of local resources. This move is particularly important for states with substantial mineral resources, as it a..

Talk to us?