Indian brand should demonstrate its superior quality to the world: Goyal

Time has come for India to demonstrate to the world its leadership position and commitment to quality, the Union Commerce and Industry Minister Piyush Goyal said on Saturday.

Addressing the 93rd Annual General Meeting of Federation of Indian Chambers of Commerce and Industry (FICCI), Goyal said that once a product is branded an Indian brand, it should demonstrate to the world that it is of superior quality.

Speaking about the proposed Brand India initiative, Goyal said that it is an idea where government and industry will partner with each other and develop both on the ‘Make in India’ side and overall Brand India side.

“We are also looking at branding India. Under the Brand India initiative, we will educate consumers both in India and internationally about products which are made in India. We are pushing all industry to certify the ‘Make in India’ products,” he said.

He said that scale of manufacturing, coupled with quality and productivity, can truly make India competitive in several sectors and help move towards an Aatmanirbhar Bharat which is going to be an important building block of the New India. Aatmanirbhar is about India improving its quality and scale of production, he added.

Goyal said that government will identify areas where India had competitive and comparative advantages, where the country can become global players and contribute to global trade in a big way.

“The tyre and rubber industry ecosystem can become a great business leader in the years to come. We will be encouraging rubber plantation through the support of private investment and government will give adequate support to tyre industry so that it can grow and flourish. We have identified another 24 sectors on which work is going on by industry leaders who are working together to come up with actionable agenda to add nearly ₹200-lakh crore worth of manufacturing in India in the next 10 years. This will certainly add lakhs of job opportunities and create scale and quality in different sectors,”, he added.

Compliance burdens

Talking about reducing the compliance burdens, Goyal said that government was working hard to create the first genuine Single Window System in terms of compliances, ease of approval process. “We intent to come up with a much easier process to meet with compliances, while simultaneously working across ministries to see if we can reduce the burden of compliances,” he said.

Describing start-ups as the backbone of new India, Goyal said that start-ups and the ecosystem of start-ups are encouraging innovation and promoting and strengthening new and young entrepreneurs. He urged the Indian industry to support the start-ups, by providing them financial support, handholding, opportunities and mentorship so that they can grow, without resorting to dilution of their stakes to foreign companies at very low valuations at the initial stage itself.

On farm laws

On recent farm laws that has run into controversy and led to protests, Goyal said that the Centre is committed to the welfare of farmers. He urged all business leaders and intellectuals associated with FICCI to talk about the benefits of the farm laws, as these laws are for the benefit of all the farmers across the country.

Goyal said that these laws without changing the past systems will open up new opportunities to do trade, commerce and business for the farmers. This will bring more investment in rural India and increase farmers’ income, he said.

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