Union Commerce Minister Piyush Goyal announced that the Indian rupee has performed well compared to global currencies due to India's strong foreign exchange reserves. He made the statement while addressing industrial representatives at the AURIC industrial zone.
Goyal explained that while most global currencies have weakened after the U.S. elections, India's robust forex reserves have helped stabilize the rupee. "The Indian rupee has strengthened against emerging market currencies," he said.
The minister also revealed plans to boost industrial growth and employment. A skill development centre spanning 20,000 square feet and a startup incubation hub covering 10,000 square feet will be established at AURIC. These initiatives aim to enhance job opportunities and research in cutting-edge industries.
Additionally, the government has decided to set up over 100 industrial hubs nationwide with plug-and-play infrastructure. These hubs are expected to drive industrial expansion and attract investments.
Addressing concerns about undeveloped industrial plots, Goyal stated that a study would be conducted to assess why some industrial units remain unestablished despite land allocations. He also assured discussions with Maharashtra Chief Minister Devendra Fadnavis and MIDC officials regarding land availability at AURIC’s Shendra and Bidkin nodes.
On the power supply front, Goyal announced that AURIC has obtained an electricity distribution license, enabling it to purchase power from the market and distribute it efficiently. The government is also working to provide cheaper electricity to industries.
With these measures, the Centre aims to strengthen India’s industrial sector, promote innovation, and ensure economic stability.
