India Must Lead With Innovation, Quality and Efficiency in Manufacturing: Goyal

Shri Goyal highlighted that under the leadership of Prime Minister Shri Narendra Modi, the Government is steering reforms that directly support national economic progress.

 

Union Minister of Commerce and Industry Shri Piyush Goyal underscored the central role of innovation, quality, design excellence, sustainability, and operational efficiency in shaping India’s manufacturing competitiveness. Speaking at the IndiaEdge event organised by the Confederation of Indian Industry (CII) in New Delhi, the Minister outlined the Government’s long-term vision to accelerate India’s economic rise.

Shri Goyal highlighted that under the leadership of Prime Minister Shri Narendra Modi, the Government is steering reforms that directly support national economic progress. He noted that India’s growth trajectory has strengthened across agriculture, services, and manufacturing, with the latter expanding into emerging sectors such as electronics, white goods, chemicals, petrochemicals, and advanced materials.

The Minister stressed that in an era of unpredictable global disruptions, Indian industry must remain agile, competitive, and globally aware. Recent supply chain challenges—driven by geopolitical tensions, pandemics, and logistical bottlenecks—have demonstrated the dangers of excessive dependence on specific geographies. Shri Goyal called for strategic identification of sectors where domestic capacity, technology development, and greater control over supply chains are essential for long-term resilience.

He emphasised that industry collaboration will be pivotal to increasing India’s manufacturing output. As manufacturing expands, it will naturally boost complementary service sectors such as logistics, design, finance, and technology. He reiterated that while India strengthens its footprint in global markets, it must continue to embrace competitive, transparent and innovation-driven domestic practices.

Shri Goyal drew attention to the rapid industrial and infrastructural transformation occurring in several States, particularly Uttar Pradesh and Odisha, which have witnessed significant improvements in ease of doing business, employment generation, and reduction in distress-driven migration. He encouraged industry leaders to continue providing actionable suggestions on simplifying procedures, modernising regulations and strengthening the manufacturing ecosystem.

Highlighting the Government’s sustained commitment to regulatory reform, the Minister mentioned ongoing efforts to ease compliance, eliminate outdated provisions, and update the legal framework. He referred to the introduction of the four Labour Codes—covering wages, social security, industrial relations and occupational safety—and noted that 23 States have already framed rules. The Codes aim to modernise India’s labour landscape by promoting formalisation, ensuring minimum wages, expanding social security, improving workplace safety and offering clarity to employers and employees alike.

The Minister underlined the critical importance of timely payments to MSMEs, stating that delayed dues severely restrict their liquidity and operational capacity. Ensuring prompt payments, he said, would significantly enhance MSME productivity, financial stability and their ability to scale.

Shri Goyal also reiterated the long-standing national ethos of Swadeshi and self-reliance, emphasising their relevance in boosting domestic manufacturing strengths. He said that the collective efforts of Government and industry will be crucial in advancing the vision of Atma Nirbhar Bharat and realising the national aspiration of Viksit Bharat by 2047. He added that with the right combination of innovation, global competitiveness and sustained reform, India is well-positioned to emerge as a central manufacturing hub in the global economy.