India's economy has grown due to its trustworthiness, decisive leadership and democratic structure favouring transparency at all levels, Union Commerce, Industry and Textile Minister Piyush Goyal has said.
The country, which is now a $3 trillion economy, has announced a stable policy framework and respected every investment made across sectors, Goyal said during an exclusive interaction meeting with members of CII in association with the Department for Promotion of Industry and Internal Trade (DPIIT), Government of India and Invest India organised here on Saturday evening.
Members from the textile, light engineering and ICT sectors participated in the meeting.
Stating that DPIIT reforms are empowering Indian industries to bring about global growth, Goyal said the importance of launching the ONDC network (Open Network for Digital Commerce) has the potential to break barriers by enabling and empowering customers to engage with sellers of their choice seamlessly.
Goyal said current e-commerce platforms were restrictive and favour products of the platform developers' choice but through ONDC, MSMEs and startups can harness opportunities provided by digital advancement in connecting with their costumers, an official release said here on Sunday.
Suggestions on importance of diversification and expansion to advanced economies like Japan for textiles was a welcome step and the ministry will support this endeavour, the Union minister said.
He assured to resolve representations on integrating multiple accreditations necessitated for the pump industry within a few days and assured that all the suggestions provided by the sectoral representatives will be duly considered and wherever possible will be resolved in a month's time.
Kamal Bali, Deputy Chairman, CII Southern Region and Managing Director, Volvo Group (India) Pvt Ltd and CII Tamil Nadu leadership Shankar Vanavarayar and CII Coimbatore leadership, Prashanth and Arjun Prakash highlighted some special needs for industrial development such as, design capacity augmentation, creating high-value added jobs, high-value products and enriching innovation capacity for capturing global markets, the release said.
Rajendra Ratnoo, Joint Secretary, DPIIT, Ministry of Commerce, and V K Singh, Special Secretary, Ministry of Textiles, spoke on the various reforms launched by their respective ministries for the benefit of industry.
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