On Thursday, Commerce and Industry Minister Piyush Goyal emphasized the critical need to elevate quality standards within the country. His vision is to transform India into a nation that earns consumers’ trust and consistently delivers high-quality products and services. Thus, he believes, will bring the country one step closer to its goal of becoming a Viksit Bharat (developed India). Piyush Goyal shared these insights during the 97th Annual General Meeting and Convention of the Federation of Indian Chambers of Commerce & Industry (FICCI). Let us delve into the key points and explore how these improvements in quality standards can be effectively implemented on the ground.
Key Government Initiatives Paving The Way For A ‘Viksit Bharat’
Piyush Goyal underscores the urgent necessity of enhancing quality standards across the country. To achieve this, he stresses the importance of establishing dedicated representatives and technical committees capable of identifying and addressing real-world challenges faced in operational settings. These representatives can serve as vital intermediaries between the government and businesses, ensuring the seamless implementation of quality standards. Moreover, the active involvement of industry leaders will play a crucial role in formulating regulations that are effective and practical for businesses to adopt and comply with.
In addition, the government has recently launched the Anusandhan National Research Foundation, which fosters research and development across the country through universities, colleges, institutions, and research centres. This initiative aims to lay a robust foundation for the nation’s development, as increased research efforts will drive greater innovation. The government has allocated a substantial Rs. 1 trillion under the foundation to support this ambitious goal, reinforcing its commitment to advancing the country’s research capabilities.
In addition, discussions are underway to establish industrial parks in Tier II and Tier III cities, a move that will significantly reduce operational costs, enhance efficiency, and generate new employment opportunities in these regions. In the context of achieving Viksit Bharat, the Production Linked Incentive (PLI) scheme plays a pivotal role. Through this initiative, the targeted 14 sectors have successfully attracted investments totalling Rs. 1.46 trillion. Furthermore, the scheme has been instrumental in driving exports worth Rs. 4 trillion, further contributing to the country’s economic growth.
The scheme is set to generate more job opportunities, boost exports, and increase the manufacturing of domestic goods. In addition, Startup India has played a significant role in fostering entrepreneurial growth, creating a vibrant startup ecosystem in the country. Currently, India boasts an impressive 153,000 successfully registered startups, driving innovation and economic expansion.