Piyush Goyal said the pandemic alerted us to a variety of challenges in our supply chain . He said that if we want to develop quickly, India will need to engage much more, not less, with the world .
New Delhi, December 9, : To reach Prime Minister Narendra Modi's goal of becoming a prosperous and developed nation, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Piyush Goyal, said on Thursday that the pandemic alerted us to a variety of challenges in India's supply chain, particularly from geographies that are not friendly or transparent.This insight has made us move forward on the path to Atmanirbhar Bharat, he said, adding that if we want to develop quickly, India will need to engage much more, not less, with the world.We are not looking to close our doors, but we are opening our doors wider to global competition, Goyal said, adding that Prime Minister Modi understands that opening our economy without first ensuring that it has the capability to face global competition is crucial.The PLI program gives the kickstart, but the business must then move on its own strength, according to the Minister.
The committee is also preparing new PLI proposals, some of which are underway.Goyal said that the government is working to resurrect the textile and cotton industry, from farmers to exports, from farms to textiles to fashion to international, and that good investments are coming in.He assured the audience that academia, industry, and government are cooperating in tandem, and that the amount of stakeholder consultations this government has undertaken has enabled us to reject the RCEP, Goyal said, citing the fact that India-Australia FTA takes effect on December 29th.Because of the extensive negotiations with stakeholders, there has not been a single negative comment on the UAE and Australia FTA, Goyal said. In the latest inflation estimates, you can see the results, and I am hopeful that we will soon fall into the comfortable band, he said.