New Delhi
Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal asked Indian industry to procure locally wherever there is an opportunity so that domestic supply chains are fortified and become more resilient and the tendency to place excessive dependence on international supply chains is curbed. He was addressing the Breakfast session Discussion on Trade 4.0 in Davos, Switzerland.
Observing that the India story had been receiving a lot of enthusiasm across the world, the Minister said that in spite of constraints like Covid 19, chip shortages, conflict, rising commodity prices, container shortages and significant shipping and logistics issues that it has been facing in the last two years, which caused massive supply chain disruptions that threw the global economy off balance, Indian businesses had displayed great resilience, overshooting export targets and achieving USD 421.8 billion worth of exports.
Quoting the Prime Minister, Shri Narendra Modi, Shri Goyal said that India amongst all these problems is an oasis which reflects transparency, offers trust and timeliness and added that the nation had responded to every crisis in a timely manner. This responsiveness, he said, is a manifestation of the resilience that Indian businesses have to offer and the resilience and confidence of political leadership.
Speaking of the need for working together towards a shared vision, Shri Goyal expressed confidence that India could achieve a target of USD 1 Trillion worth of merchandise and services export each by 2030 if we worked as a team.
Noting that in the last 8 years, the government had focussed extensively on structural reforms the Minister said that each one of those movements has been holding India in good stead during times of crisis.
