Goyal Urges Domestic Collaboration to Fortify India's Manufacturing Sector

Commerce and Industry Minister Piyush Goyal has urged Indian companies to purchase goods from each other to foster a self-reliant ecosystem and provide protection against global disruptions. He also highlighted the potential of newly approved industrial townships to bolster manufacturing and help India become a developed nation by 2047.

Commerce and Industry Minister Piyush Goyal on Friday called on domestic companies to support fellow Indian businesses by purchasing goods from each other. He emphasized that such collaboration would benefit companies in the long run and provide resilience against disruptions like the pandemic.

Goyal also encouraged India Inc to explore opportunities in the recently approved 12 industrial townships, which are expected to boost the manufacturing sector.

He highlighted that while India's GDP is growing rapidly, manufacturing growth remains stagnant at about 15-16% of GDP for the last 20 years. Goyal stressed the importance of strengthening manufacturing to make India a developed nation by 2047.

(With inputs from agencies.)