Goyal Urges Industry Leaders to Shun Protectionism and Embrace Competitiveness

Union Commerce and Industries Minister Piyush Goyal has urged industry leaders to focus on becoming competitive by innovating and improving manufacturing practices, rather than relying on government support. Speaking at an event, Goyal stressed the need to move away from protectionist measures like subsidies and high import duties to achieve the nation's development aspirations.

Union Commerce and Industries Minister Piyush Goyal called on industry leaders to be proactive and competitive, instead of relying on government aid. Addressing the IMC Chamber of Commerce event, Goyal questioned the long-standing dependence on subsidies and protectionist measures.

Goyal emphasized that India's economic progress hinges on the industry's ability to innovate and upgrade its manufacturing capabilities. He noted that true competitiveness and a shift from a protectionist mindset are essential for the nation's development.

While acknowledging certain import-dependent sectors, Goyal highlighted the country's readiness to play a larger role in global trade through initiatives like Make in India, signaling a departure from quality-related challenges faced by the nation.