New Delhi, Oct 29 (IANS) Reaffirming the government’s commitment to maintain regular engagement with industry stakeholders, Commerce and Industry Minister Piyush Goyal has underscored the importance of collective efforts to make Indian products and services globally competitive and strengthen India’s reputation as a trusted trading partner.
In an interaction with representatives of Export Promotion Councils (EPCs) here, Goyal highlighted the evolving global trade environment, characterised by geopolitical uncertainties, changes in tariff structures, supply chain realignments and emerging regulatory requirements in major international markets.
He noted that while these developments pose challenges for exporters, they also present opportunities for India to strengthen its position as a reliable and competitive global trading partner, according to Commerce Ministry.
Goyal emphasised the need for Indian industry to remain agile and responsive to the changing international business environment.
He encouraged exporters to focus on improving product quality, innovation, cost competitiveness, reliability of supply and compliance with international standards to enhance India’s participation in global value chains.
Goyal also highlighted the growing interest in India as a manufacturing, sourcing and investment destination. He stressed the importance of translating these engagements into tangible business outcomes through sustained interaction between Indian industry and overseas businesses.
The minister encouraged EPCs to engage proactively with their international counterparts, identify potential buyers and facilitate business partnerships in established and emerging markets.
Goyal also emphasised the need for a focused approach towards product and market diversification in response to changing global demand and emerging supply chain opportunities.
He encouraged EPCs to identify products with untapped export potential, explore new destinations and develop market-specific strategies. He highlighted the importance of consolidating India’s competitive advantages in established sectors while building capabilities in emerging areas.
The minister highlighted ongoing efforts to improve ease of doing business, strengthen trade infrastructure and address challenges faced by exporting enterprises.
He referred to the Export Promotion Mission as an important initiative for addressing constraints related to export finance, market access and international competitiveness, particularly for Micro, Small and Medium Enterprises (MSMEs).
—IANS
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