Piyush Goyal Emphasizes India's Self-Reliance in Capital Goods

In a push to strengthen India's position in the global market, Commerce and Industry Minister Piyush Goyal stressed the need for self-reliance in the capital goods sector on Tuesday. Speaking at a post-Budget webinar focused on industrial advancements, Goyal outlined the significant role sectors like container manufacturing could play in boosting the nation's export-import dynamics.

The minister emphasized the urgent requirement to promote the capital goods segment, suggesting its potential to unlock around Rs 2.5 lakh crore from CPSEs inventory. He pointed out critical areas such as semiconductor talent, supplier confidence, and skill development in electronics manufacturing that were discussed in sub-group deliberations.

Goyal also remarked on the importance of shifting from traditional cotton to man-made fibers and digital platforms in the textile sector to achieve global competitiveness. The Union Budget's initiatives for Chemical Parks and legacy industrial cluster revival aim to pave the way for streamlined processes, investment unlocking, and public-private collaborations.