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Market: Industry urged to adopt best practices

Fiinews by Fiinews
April 16, 2025
in Markets
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India is breaking silos, fostering collaboration

Minister of Commerce & Industry Piyush Goyal has urged industry stakeholders to adopt best practices in sustainability, reduce import dependency, focus on clean and green construction, and work towards earthquake-resistant and modular infrastructure https://www.commerce.gov.in/.

Addressing the CAPEXIL’s Vibrant Buildcon 2025 on 13 April, he highlighted India’s growing strength in the construction ecosystem—from Global Capability Centres (GCCs) to domestic manufacturing under Make in India. He underlined the importance of key sectors such as housing, infrastructure, commercial real estate, railways, airports, highways, and energy.

“Every element, from cement and electricals to security systems and automation, plays a part in this ecosystem,” he said.

The Minister listed several major government initiatives, including 20 new smart industrial cities, improved tourism infrastructure across 50 destinations, and 100 new industrial plug-and-play hubs.

“If we are to move from a US$4 trillion economy today to a US$30-35 trillion economy by 2047, every citizen must contribute to Viksit Bharat 2047,” he said https://fieo.org/.

The Minister noted that today India is breaking silos, fostering collaboration, and reimagining the future with a convergence of minds.

“Vibrant Buildcon is only the beginning of the transformation of our construction ecosystem under one umbrella,” Goyal said.

Drawing a connection between India’s food security and infrastructure growth, Goyal pointed out that Vibrant Buildcon exemplifies the country’s ability to support rapid urbanisation, housing for all, and logistics transformation https://www.makeinindia.com/home/.

“This platform showcases our manufacturing and infrastructure strength, which is crucial to attract global investments and reduce logistics cost,” he added.

He emphasised India’s potential to emerge as a global superpower. “We must aim for audacious goals, ensure our labour force receives fair wages, and innovate continuously. Let there be no doubt—India will lead the world in growth, innovation, and inclusive development,” he said. fiinews.com

Tags: Ministry of Commerce and Industry
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