Goyal urges industry stalwarts to create a roadmap for vibrant and robust ecosystem
The Government’s focus will be on Rs.1.97 lakh crore PLI for 13 sectors in next 5 years, when 50,000 news startups will create 20 lakh jobs, Commerce and Industry Minister Piyush Goyal told Industry Associates during discussions on economic prospects, measures to enhance and increase exports and the aim to have exporters contributing US$2 trillion to the GDP by 2030.
Additionally, the focus will be on 24 sectors to attract investment, have a one-stop digital platform to facilitate businesses through Investment Clearance Cell (ICC), work on One District One Product to create a pool of 739 products from 739 districts as well as have an India Industrial Land Bank for providing a GIS-enabled database of industrial areas, he said.
The Minister called on industry stalwarts that the interaction should create a roadmap to build a vibrant and robust industry ecosystem.
To date, more than 54,000 start-ups were providing ~5.5 lakh jobs in the country.
Goyal urged the Indian Industry to suggest areas for intervention through research, handholding of exporters and manufacturers, deeper engagement with States, greater engagement with Indian Missions abroad.
He informed that Merchandise exports for the first 2 weeks of Aug’21 was up by 45% over 2020-21 and up 32% over 2019-20. Merchandise exports for 1 Apr – 14 Aug’ 21 increased by 71% over 2020-21 and 23% over 2019-20, respectively. “It is also time to reflect on how to achieve future targets.”
India’s average applied import tariff dropped to 15% in 2020 from 17.6% in 2019, a sharpest annual fall in about 15 years, said the Minister, adding, “Our applied tariffs are way below the bound rate of 50.8% (permissible limit under the WTO). With a positive momentum, India is working in mission mode to achieve target of US$400 billion merchandise exports in 2021-22.”
“It is time for our Industry to expand our capacity, capability and commitment to develop resilient global supply chains. Our relentless efforts are a testament to the world of our potential and India’s ability to scale.”
“The key to success is to focus on goals, not obstacles” the Minister stressed during the interaction held 23 Aug 2021.
The Industry Associations will play a key role in developing a SAFE ecosystem — Sustainable, Agile, Futuristic and Efficient to make India a Global Hub of Manufacturing. #economy #exports #manufacturing #technology #startups /fiinews.com
