New Delhi: Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Piyush Goyal urged the automotive sector to enhance India’s self-reliance and explore avenues for bolstering exports.
Speaking as the Chief Guest at the 63rd Annual Convention of the Society of Indian Automobile Manufacturers (SIAM) in New Delhi, Goyal envisioned India’s automotive industry, now the world’s third-largest ecosystem, aspiring to become the largest.
Goyal also highlighted a significant achievement during India’s G20 Presidency, namely the adoption of the G20 New Delhi Leaders’ Declaration on the summit’s first day. He expressed pride in this achievement, signifying India’s growing prominence on the global stage. The Minister underscored the three pillars of India’s strength: Democracy, Demographic Dividend, and Diversity, which he believed would fuel the automotive sector’s growth and reinforce self-reliance. He stressed the need for increased localization within the industry, commending its efforts to reduce import dependency but urging introspection to further enhance this aspect.
Additionally, Goyal encouraged stakeholders in the automotive sector to explore apprenticeship programs aimed at expanding the skilled workforce, emphasizing the importance of skilling, upskilling, and certifying young talents. He noted that such programs could contribute to improved quality and productivity while providing stipends to youth undergoing skill development.
Goyal observed that the ambitious younger generation, who currently own two-wheelers, aspired to upgrade to four-wheelers as their economic status improved. He emphasized that India was now part of the global community, with government initiatives aimed at ensuring essential needs like food, clothing, shelter, healthcare, and education. The Minister called for an acceleration of these transformations to keep pace with changing times.
Highlighting the anticipated exponential growth in automotive demand, Goyal urged the industry to maintain a level playing field between Indian and overseas suppliers, seeking transparency on imported products. He called upon the SCALE Committee (Steering Committee for Advancing Local Value-Add and Exports) to reassess the need for imported goods and promote research and development to establish India as a self-reliant global sourcing hub.
Goyal commended the industry’s efforts toward self-reliance and the “Amrit Kaal” of New India. He emphasized India’s increasing relevance in global growth and hinted at the pursuit of more Free Trade Agreements (FTAs) to unlock opportunities in larger and more lucrative markets. The Minister concluded by quoting Swami Vivekananda, emphasizing the power of intense determination in accomplishing seemingly insurmountable tasks: “If the mind is intensely eager, everything can be accomplished – mountains can be crumbled into atoms.”