Marking a decade of the transformative “Make in India” initiative, Minister of Commerce and Industry, Piyush Goyal, underlined the broader fact of manufacturing transitioning on the back of sector hard-wiring the manufacturing ethos in pursuit of attaining manufacturing excellence.
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Whereas mantras like adhering to high-quality gold standards in alignment with the underlying country's vision of Make in India with “Zero Effect; Zero Defect” where the right policy interventions are force-multiplier and have a catalytic effect in transforming India as new trusted goods and products' supplier to the world to promote 'Brand India' through sustainable practices unleashing spirit of innovative approach in this journey.
Addressing the gathering, Piyush Goyal while in his inspiring address made a categoric emphasis on the beneficial effects of PLI sectoral schemes and made a positive mention of PLI beneficiary companies appreciating how they demonstrated the game-changing nature of this policy intervention driving growth across key sectors, generating a significant amount of jobs, and is been a pivot in projecting and promoting India as an emerging powerhouse in manufacturing, in turn, integrating it deep into rebalancing/reprioritizing of global supply chains.
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Goyal further exhorted CEOs underscoring the merit of incrementally going for value accretion in domestic manufacturing leading to margin accretion making enterprises go down the path of sustainable business models in the long term.
During this intense and free-wheeling interaction with CEOs of beneficiary companies gathering deep insights and horse's mouth perspectives on these PLI Schemes, underpinning success stories, and soliciting feedback for feedforward to improvise the schemes’ effectiveness, simplification, rationalizing, and streamlining the implementation whatever and whichever possible.
The discussion served as a constructive platform for open communication between trade multi-stakeholders seeking suggestions as to how to further ease the doing of business.
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Access to the industry stakeholders to approach Invest India National Investment Promotion and Facilitation Agency, to facilitate technology transfer & foreign collaborations.
Providing handholding support in achieving greater market access.
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The government is fully cognisant of where to fast-track the necessary approvals related to the PLI industry to deliver.
It was a high-powered meeting where many senior officials from implementing Ministries/line ministries/ Departments and Project Management Agencies (PMAs) were also present. The interaction outlined the changing paradigm approach of focusing on tangible outcomes rather than inputs where results are there to see resulting in solid ascent in manufacturing transcending India’s global competitiveness.
CREDITS: PIB