Union Commerce and Industries Minister Piyush Goyal urged the industry players on Thursday to turn competitive instead of relying on the government for support.
Speaking at an event by the IMC Chamber of Commerce, the Minister asked how long would the industry depend on the “crutches” of subsidies, high import duties, and other similar protectionist measures.
“Till when can we look up to the government for support? Or, till when can we win on crutches of subsidies and support, incentives, high import duties, the protectionist mindset, and being very defensive in our engagement with the world?” the Union Minister said.
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Piyush Goyal bats for competitiveness and individual growth
He opined that businesses should thrive on competitive strength and engage with the world with confidence, instead of depending on the Government.
Goyal further said that competitiveness in an industry depends on its capacity for innovation, upgrading manufacturing practices, skillsets, and efficiency.
“Unless we become competitive, the aspirations of 140 crore Indians will not succeed, and we cannot achieve being a developed country,” he said.
He named five key enablers for bringing about Viksit Bharat@2047, namely Quality Management and Handholding of Small Business, Sustainability, Inclusive Growth, Skill Development and Competitiveness and Efficiency.
The Minister said businesses should address the agenda of inclusive development through better CSR initiatives.
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