India should get recognized Globally for its Quality and Competitiveness: Piyush Goyal
By siliconindia | Friday, 11 September 2020, 10:12 Hrs
The Union Minister of Commerce and Industry, Piyush Goyal has addressed the Indian Institute of Foreign Trade students through virtual interaction. During this video conference, he has announced that the government is working with states and local bodies to deregulate and ease the process of starting a business. He also pointed out on India has significantly leveled up its rank on the ease of doing business over five years.
Commenting on the country's mammoth potential, Piyush has said that the real unique selling point of India should revolve around high quality, good service, and affordable pricing.
He states, "India should get recognized the world over for its quality and competitiveness. Quality will have to be integral for the planning of our future. We believe in transparent pricing, transparent trade, free market, no price controls, and no hidden subsidies."
While talking about the concept of Aatmanirbhar Bharat, he says that it is not just closing the country's doors to international trade and engagement. But, it is actually opening it wider looking for greater engagement in terms of global trade. Using this opportunity, India could focus on engaging with global economies from a position of strength with highly cost-competitive products of high quality.
Piyush has further indicated that India being massive and much-sought after market globally. Thus, its a market that businesses across the globe prefer to engage with. Therefore, the businesses would not just get a huge Indian market but could also leverage this market to get economies of scale. In addition, the trading relations between the two countries rest on the pedestal of high reciprocity and equilibrium, and many more countries are attracted towards balanced trade. Hence, India would also get to engage with various other countries to extend our trading relationships but on the strength of our own competitiveness.
The other countries that prefer to access the market of 139 crore Indians, then they would also have to give fair access to their market. While India is not going to be a patient receiver of unfair trade practices says Piyush.
Furthermore, he stated that the historical wrong would have to be corrected by our generation. The RCEP deal was not signed as it didn't meet the country's concern. India, Japan, and Australia, all the three democracies, trusted partners, and believers in rule-based trading have lately agreed to possess a supply chain initiative