Goyal Urges the Industry to Focus on Standards, Industry 4.0, Trade, SDGs and Utilise PLIs

·         Even the poorest of the consumers in our country deserve the best quality products: Shri Goyal says addressing the Special Plenary Session at FICCI LEADS 2022

·         FICCI can play an important role in taking the message of quality to the MSME sector

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal on 20 September 2022 said that even the poorest citizen of the country deserves the best quality products and the culture of no compromise with quality has to be adopted in the country. Shri Goyal said this while addressing the Special Plenary Session at FICCI LEADS 2022 program in New Delhi.

Piyush Goyal urged the Industry to focus on 5 Key areas in the Manufacturing sector - Standards or Quality, Durability, Design, Price & Sustainability and align them to the international standards. He said we must adopt new technologies like IoT, AI and Machine Learning. We must look at upskilling and retraining our workforce to be able to meet the needs of Industry 4.0, he added.

Speaking on the importance of world trade, Shri Goyal said that we must acknowledge that we need to engage with the world to develop. We need to globalize trade and get the best from the world while simultaneously giving the best to the World. He said that we must focus on Green Energy, reducing emissions, generating consciousness about cleanliness and other SDG Goals contributing towards a better future for our children and Utilise PLIs to strengthen MSME ecosystem.

Referring to the theme of the event, ‘Excellence in Manufacturing’ Shri Goyal observed that Excellence in manufacturing is not new to India. He said that although there is no sector in which India does not have high quality manufacturing, we as a society still live in two worlds - one which is highly quality conscious and another which is still not sensitized to the value of high quality. Shri Goyal said we need to change this mindset of two quality standards for domestic and international markets and must not compromise with quality. Mr. Goyal said that FICCI can play an important role in taking the message of quality to the MSME sector through their partnership with other associations across the country.

Stressing on the need to expand our engagement with international markets, Shri Goyal noted that the world wants to engage with India. He cited the example of Saudi Arabia which he said is looking for India’s partnership in nearly 30 sectors including Pharma, Mining, Infrastructure Fintech, EdTech, HealthTech & education. Medical devices, E-gaming and e-Commerce are areas in which they want Indian expertise. He urged the Industry to grab these opportunities.

Shri Goyal said that if we collectively focus our energies on the 5 Pran that Prime Minister Narendra Modi gave us, we can be a developed nation in the next 25 years and bring prosperity to every single home through the length and breadth of the country.