As per Piyush Goyal, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, the world is quite confident when it comes to India today. This trust has grown as a result of the eight years spent patiently telling India’s story. The government’s main agenda has been structural changes, which have helped us create the foundation for the future. He was speaking at the third edition of the CII Exports Summit.
India’s population of over one billion people, according to Goyal, is a blessing for the nation as it draws many businesses, creates economies of scale, and opens up opportunities. India, according to Goyal, needs to make quality its brand and work to establish a reputation for producing high-quality goods. Making quality our brand will radically transform India’s future and open up opportunities for our export sector to expand much more quickly, he continued.
The Minister stated that Indian missions abroad have been requested to assist our exporters by assisting them in obtaining new opportunities and new business in those nations. He urged them to begin communicating with Indian missions and asked for help if they ran into problems. He claimed that CII serves as a conduit between the government and exporters and offers a forum for greater communication. He asked the CII to alert the government to the problems the industry was facing and to offer solutions.
In order for small businesses to comprehend the advantages of quality control orders and concentrate on adhering to quality standards, the Minister pleaded with leading industry players to assist and support them. He continued by saying that offering high-quality products and services is also financially wise. Goyal stressed that reciprocity is the key to progress in international trade and that India must work toward trading with other nations on an equal footing.
Goyal stated that the industry must learn from the IT sector’s incredible success. According to him, the quality of services rises when each industry is given the freedom to compete independently and thrive. This, along with the Indian ecosystem, which consists of trust, the rule of law, and a swift, strong administration, would aid in the conquest of larger markets. He argued that the industry shouldn’t seek out protectionism since it won’t help it develop so that it can satisfy customer demands. It needs to work hard to concentrate on industries where it has a competitive advantage. He added that we will be able to grow our businesses, scale them up, and raise the quality with the mindset of seizing the competitive edge.
Goyal referred to Prime Minister Narendra Modi’s August 15th address this year, in which he articulated his vision of a developed India by 2047 and stressed the importance of shedding our colonial mindset, returning to our roots, and concentrating on our core competencies. According to Goyal, we must move forward with confidence and an entrepreneurial spirit, and we must become job creators rather than job seekers.
Goyal urged exporters to concentrate on “SPICE” — excellence, productivity, innovation, and sustainability. The world, he continued, is looking at productivity and sustainability in all things created. He pointed out that modern nations that have placed an emphasis on innovation have been successful. He challenged the sector to embrace a culture of competitiveness while also working together to achieve greatness.
