In a pivotal gathering of industry leaders, Union Minister Piyush Goyal passionately called for an upsurge in production activity, aiming to propel India into a prominent global manufacturing hub. This article delves into the event’s highlights, emphasizing key discussions, and strategies for industry growth.
Reform Initiatives and Industry Support
During the “Chintan Shivir – Unleashing the Power of India’s Manufacturing Industry” at Bharat Mandapam, Minister Piyush Goyal spotlighted several reform initiatives and schemes introduced by the government to bolster the manufacturing ecosystem. He warmly welcomed suggestions from industry leaders, recognizing their invaluable support in this endeavor.
Inclusive Industry Collaboration
This gathering, organized by the Department for Promotion of Industry and Internal Trade (DPIIT) in collaboration with the SCALE Committee and Invest India, attracted industry leaders from prominent associations like CII, FICCI, ASSOCHAM, ACMA, and SIAM. Knowledge partners BCG and McKinsey also contributed to this momentous event.
Key Discussion Points
The conclave provided a vital platform for discussing challenges and opportunities within India’s manufacturing sector. The primary focus was on expanding manufacturing capacities across various sectors and elevating the contribution to GDP by 2030.
Diverse Sectors and Strategic Insights
The event sparked enriching discussions on 12 sectors, including textiles, capital goods, auto and EV, defense, aerospace and space, metals and mining, leather and footwear, energy, food processing, chemicals, medical devices, ESDM value chains, and drones, from the manufacturing industry. Key topics included creating a conducive manufacturing ecosystem, maintaining quality standards, promoting domestic value addition, government policies and support, and fostering industry agility.
Blueprints for Success
These discussions laid the groundwork for innovative strategies, trade enhancement, integration with global supply chains, and increased investments in the Indian manufacturing industry. Each sector presented comprehensive industry snapshots, outlining current and projected potential and export possibilities. The presentations dived into critical enablers for achieving these objectives, spanning ecosystem development, policy landscape, technological advancements, and skill development initiatives.
Government-Industry Collaboration
Attendees gained insight into the collaborative plans proposed by the government and the industry to drive these initiatives forward. It became evident that unity and collaboration between the government and industry are crucial in realizing these ambitions.
