Startups set to be backbone of ‘New’ India: Piyush Goyal

Startups are going to be the backbone of new India, believes Union Minister Piyush Goyal. He highlighted that the ecosystem of startups is encouraging innovation, promoting and strengthening new young entrepreneurs, businesses with new ideas, new ways of doing business.

Addressing the 93^rd Annual Convention of Federation of Indian Chambers of Commerce and Industry (FICCI), the minister observed that the scale of manufacturing coupled with quality and productivity can truly make India competitive in several sectors, and help move towards an Aatmanirbhar Bharat, which is going to be an important building block of the “New” India. Goyal said the government has idenified another 24 sectors on which work is going on by industry leaders who are working together to come up with an actionable agenda to add nearly Rs 200 lakh crores worth of manufacturing in India in the next 10 years.

“We are pushing all industry to certify the Make in India products. Under the Brand India initiative, we are also looking at branding India,” he said. “It’s time now that India demonstrates to the world our leadership position and commitment of quality.” Goyal believes that its time, India demonstrates to the world its leadership position and commitment of quality. “Once a product is branded an Indian brand, it should demonstrate to the world that it is of superior quality.” The minister thanked FICCI for its support in creating Brand India. “The Brand India initiative is an idea where the government and industry will partner with each other and develop both on the Make in India side and overall Brand India side,” he explained.

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Goyal added that the programme will lead to US$30 billion addition to India’s manufacturing ecosystem. “This will certainly add lakhs of job opportunities and create scale and quality in different sectors.”