India must collaborate to achieve business transformation, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal emphasised the critical need for collaborative efforts between government and industry to achieve India's developmental goals and enhance global economic standing. He was speaking at the Federation of Indian Chambers of Commerce & Industry’s (FICCI) 97th Annual General Meeting.

At the convention in New Delhi on Wednesday, Goyal highlighted India's growing global reputation, describing the nation as the world's premier growth engine. He stressed that the Global South views India as a potential transformative leader, with this standing built fundamentally on trust.

"India today has earned the trust of the world and is looked upon as a trusted partner," Goyal remarked, underlining how Indian businesses are increasingly integrating into global value chains.

The minister called for a proactive industry approach towards reducing compliance burdens and decriminalising laws that might impede business development. He specifically urged businesses to collaborate on establishing quality standards, suggesting that technical committees from the Bureau of Indian Standards (BIS) and FICCI should ensure industry representation to develop more practical and useful quality benchmarks.

Quality standards, according to Goyal, are imperative for achieving the 'Viksit Bharat 2047' vision - a national development strategy aimed at transforming India into a developed nation by 2047. He emphasised that global confidence in India as a quality goods and services producer will be crucial to this journey.

The minister also highlighted the interconnection between cleanliness and economic development. He proposed that industries adopt corporate social responsibility (CSR) initiatives focused on building toilets in schools, believing such efforts could attract tourism and create employment opportunities.

FICCI's President-Elect, Harsha Vardhan Agarwal, echoed these sentiments, confirming the federation's commitment to the Prime Minister's Swachh Bharat (Clean India) mission. He mentioned that Make-in-India remains a key priority for the organisation.

During the event, FICCI announced its Swachh Industrial Parks Campaign and associated awards, further underscoring the commitment to cleanliness and sustainable industrial development