New Delhi: Innovation, efficiency and resilient supply chains will shape the next phase of India’s manufacturing growth, Union Commerce and Industry Minister Piyush Goyal said on Tuesday, urging Indian
industry to stay globally competitive and responsive to geopolitical and market shifts. Speaking at the CII’s IndiaEdge event in New Delhi, Goyal said the government under Prime Minister Narendra Modi is working with a “clear vision” to support India’s economic progress across agriculture, services and manufacturing. India’s manufacturing base, he noted, has expanded into emerging sectors including electronics, white goods, chemicals and petrochemicals, reflecting a broader diversification trend.
Goyal underlined the need to reduce overdependence on specific geographies and strengthen domestic capacity, especially after recent supply chain disruptions. He stressed that competitive practices within India must complement the country’s rising global presence and said collaboration between industry and government will play a central role in boosting output. The Minister highlighted rapid progress made by States such as Uttar Pradesh and Odisha, calling it evidence of stronger local opportunities and lower migration pressures.
He reiterated the government’s ongoing reforms to modernise India’s regulatory landscape, including the introduction of the four Labour Codes, for which 23 States have already framed rules. The Codes, he said, will enhance formalisation, ensure minimum wages and improve social security and workplace safety. Goyal also emphasised the importance of clearing MSME dues on time to ease cash-flow constraints in the sector. Pointing to the continued relevance of Swadeshi and self-reliance, he said industry must support the vision of Atmanirbhar Bharat as India advances toward the goal of Viksit Bharat 2047.