India’s Commerce and Industry Minister, Piyush Goyal, emphasized the need for a shift in strategy to strengthen export competitiveness. Speaking at a recent event, Goyal argued that reliance on subsidies alone would not drive sustainable growth. Instead, he stressed the importance of quality enhancement, innovation, and process improvements to position Indian exports favorably on the global stage.
Moving Away from Subsidy Reliance
The minister highlighted that many countries have moved beyond subsidies to focus on building efficient supply chains and technological advancements. He encouraged Indian exporters to adopt similar strategies, with a focus on developing high-quality goods that can compete without government support.
Quality, Innovation, and Market Access
Goyal noted that India must aim to achieve global standards by investing in research and development, modern infrastructure, and workforce training. He also discussed the government’s efforts to negotiate better market access through trade agreements, which would further boost export potential.
Path Forward
The minister reiterated that the goal is to foster a culture of self-reliance and quality production, which will make Indian goods more appealing worldwide. He urged the industry to align with international standards to create long-term sustainability.
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