Indian businesses will have to scale volume to be global player, says Goyal
Commerce and Industry Minister Piyush Goyal has clarified that the Production Linked Incentive (PLI) scheme is not to make the beneficiaries dependent on government services but is to boost the manufacturing sector.
“Ultimately competition will prevail”, emphasised the minister as he urged them to be more outward looking in terms of scaling their businesses and not only be catering to the domestic market.
To become a global player, it is important for businesses in India to be recognised and for that they have to scale their volume which would also help them to be cost-effective, he pointed out.
Goyal, also Minister for Consumer Affairs, Food and Public Distribution, and Textiles, held an interaction with PLI beneficiaries at in New Delhi on 3 Feb 2024.
During the opening interaction, the minister welcomed constructive criticism from the various industrial sectors for better facilitation and manufacturing growth in the country.
In a bid to facilitate better functioning and synergy between the Government and the sector, the minister asked for constructive criticism and consultation but at the same time cooperation from the beneficiaries.
Goyal, further, emphasised that the government has its own constraints and restraints as they also face CAG Audit and expressed his belief in the transparency of paperwork where there is no scope for irregularities neither from any minister nor any government officials.
Emphasising about maintaining collaboration between the Government and the beneficiaries and also amongst them, Goyal said that supporting each other will benefit the country and help make India into a manufacturing powerhouse. Fiinews.com
