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Utilise PLIs to strengthen the MSME ecosystem: Union Minister Piyush Goyal

Ease of Doing Business for MSMEs: Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal said Production Linked Incentive Scheme (PLI) must be utilised to strengthen the MSME ecosystem. 

The Union Minister was speaking at the Special Plenary Session at FICCI Leads (Leadership, Excellence, Adaptability, Diversity, Sustainability) programme in New Delhi. He added that focus has to be brought on green energy, reducing emissions, generating consciousness about cleanliness and Sustainable Development Goals to create a better future for the next generation. 

He urged the industry to focus on five key areas in the manufacturing sector – standards or quality, durability, design, price and sustainability and their alignment with the international standards. Adoption of new technologies such as the internet of things, artificial intelligence, machine learning and upskilling of the workforce to meet the needs of Industry 4.0 is a must, he said. 

Citing the overall theme of the event, ‘Excellence in Manufacturing’, the minister noted that excellence in manufacturing is not new to India. Every sector in India has high quality manufacturing yet the country lives in two worlds – one which is extremely quality conscious and the other which is not sensitized to the importance of maintaining high quality. He said this mindset needs to change and whether a company is serving the domestic or international market, there should be no compromise on quality. 

Even the poorest citizen of the country deserves the best quality products and the culture of no compromise with quality has to be adopted in the country, he said. 

Highlighting the need to increase engagement with global markets, the union minister noted that the world wants to engage with India. He cited the example of Saudi Arabia which is seeking to partner India in nearly 30 sectors including pharma, mining, infrastructure, fintech, edtech, healthtech and education. He urged the industry to grab these opportunities.

He said that we can be a developed nation in the next 25 years if we collectively focus on the five Pran that Prime Minister Narendra Modi gave us.