Shri Piyush Goyal chairs a Chintan Shivir with industrialists on "Unleashing the power of India’s Manufacturing Industry"

Shri Goyal asks the industry to accelerate production activity and make India a global hub for manufacturing, highlights reforms and schemes undertaken to support manufacturing ecosystem

Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Shri Piyush Goyal highlighted various reforms and schemes undertaken by the government to support the manufacturing ecosystem and welcomed the suggestions to catalyse the process for achieving economies of scale. While chairing the “Chintan Shivir - Unleashing the power of India’s Manufacturing Industry" at Bharat Mandapam, New Delhi, the Minister commended the attendees, recognizing their spirited engagement and unwavering dedication to propelling India's manufacturing sector to scale greater heights and to become globally competitive.

Shri Goyal also asked the industry to accelerate production activity and contribute in making India a global hub for manufacturing. The Minister emphasized the Government's steadfast commitment to providing consistent policies while acknowledging the pivotal role and the support from industry leaders. The presence of Union Minister of State for Commerce and Industry, Shri Som Prakash, further underscored the significance of the occasion, emphasizing the collaborative spirit driving India's industrial growth.

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry in association with SCALE Committee and Invest India organized a “Chintan Shivir - Unleashing the power of India’s manufacturing industry". The event brought together industry leaders from across CII, FICCI, ASSOCHAM, ACMA, SIAM along with knowledge partners BCG and McKinsey. The event was successfully hosted at Bharat Mandapam, Pragati Maidan, New Delhi. The conclave served as a crucial platform for discussing the challenges and opportunities within India’s manufacturing sector. The major focus was to understand and deliberate on increasing manufacturing capacities across various sectors and enhance contribution to GDP by 2030.

The event evoked enriching discussions on 12 sectors (Textiles, Capital Goods, Auto and EV, Defence, Aerospace & Space, Metals & Mining, Leather & Footwear, Energy, Food Processing, Chemicals, Medical Devices, ESDM Value Chains, Drones) from manufacturing industry on key topics such as creating manufacturing ecosystem, maintaining quality standards, promoting domestic value addition, government policies and support, fostering industry agility These discussions laid the foundation for innovative strategies, trade enhancement, integration with global supply chains and increased investments in the Indian Manufacturing Industry.

The presentations made by each sector encompassed a comprehensive industry snapshot, detailing the current and projected industry potential and export potential. The presentations delved into the critical enablers necessary for achieving these goals spanning the ecosystem, policy landscape, technological advancements, and skill development initiatives. Moreover, attendees experienced a detailed overview of the proposed collaborative plans between the government and the industry to drive these initiatives forward.

The discussions were the culmination to the sector-based brainstorming session of the working groups held with Industry Members and the SCALE Committee.