Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Minister Shri Piyush Goyal today said that “scale” and “velocity” will change India’s growth story. Quoting Prime Minister Shri Narendra Modi, the Minister highlighted the extent of India’s opportunities and the speed with which India is adopting technology and integrating into the global economy. He was speaking at the 43rd annual ACE Dialogues 2022 conference of the Consumer Electronics and Appliance Manufacturers Association (CEAMA) in New Delhi today.
Congratulating the Award winners, the Minister appreciated the industry for their passion and determination to contribute to India’s growth story and embark on the journey of a self-reliant and self-reliant economy. He especially appreciated the LED manufacturers for their contribution to the Indian LED success. He said that the entire nation has adopted LED and pointed out that India was able to introduce LED bulbs to the length and breadth of the country in just four years.
Addressing the gathering, he said that with 1.4 billion people, India today provides the largest market opportunity available anywhere in the world. This is the calling card, said Shri Goyal, that makes the world want to deal with India today. They realize that India offers a huge market opportunity. Shri Goyal emphasized that the developed countries of the world now want to enter into free trade agreements or comprehensive economic partnerships with India. India’s vibrant startup ecosystem and innovation is attracting the world to come and set up operations in India. Shri Goyal informed that FTA negotiations are going on with UK, Canada, EU, Israel and one more important FTA (with GCC) will be launched next week.
He commended the industry for their courageous leadership in negotiating on an equal footing when dealing with developed countries. This shows the courage of the industry’s belief in its ability to compete with the best, he added. Shri Goyal said that the Government’s focus is on promoting manufacturing in India. He added that the government has made significant structural changes in the Indian economy, citing ease of doing business, an improvement in the Global Innovation Index and the success of programs such as the manufacturing-linked incentive program. Shri Goyal said that the remarkable growth in the mobile industry from two manufacturers to nearly 200 manufacturers is a living example of success.
Shri Goyal said that it is a matter of pride for India to take over the Chairmanship of G 20. Shri Goyal said that India is a “SMART” country. Elaborating, he said the “S” stands for sustainability. Sustainability should be a hallmark of the consumer electronics industry. “M” stands for India’s manufacturing capabilities, we can produce high quality products, we can become globally recognized, we can adopt and implement world quality standards, he added. “A” stands for Atmanirbhar Bharat. We need to encourage the component ecosystem in India to become a manufacturing base for atma nirbhar consumer electronics.
“R” stands for rating. He asked the industry to consider the Made in India label quality assessment on the principles of self-regulation. He asked to encourage people to adopt modern standards and buy high quality goods. “T” stands for technology. It will determine the success of our industry. We need to look at new emerging trends and pick up current trends in their early stages. Shri Goyal concluded by stating that the industry will indeed become the flag bearer of a new prosperous India that will provide employment opportunities to every child born in India and manufacture world class products in India.
