PLI Scheme has found good acceptance and traction, has helped investments: Goyal

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal has said that India will have to face global competition effectively to achieve the goal of becoming a prosperous and developed nation. He was speaking at the CII Global Economic Policy Summit in New Delhi today.Speaking on the way forward for the Indian economy and the steps being taken to realize the vision of Prime Minister Shri Narendra Modi to make India a developed nation in Amrit Kaal, Shri Goyal remarked that the pandemic alerted us about our dependence on supply chains, particularly from geographies that are not friendly or transparent. It opened our eyes on a number of risk factors in our trading system, our manufacturing and technology gaps that existed in India, he said. This insight has helped us to move forward on the path to Atmanirbhar bharat, he said, adding that India will have to engage much more with the global economy if we want to develop fast. To achieve the goal of Atmanirbhar Bharat, we have to engage much more, not less, with the world, he said. We are not looking for closing our doors – but we are looking to opening our doors wider to global competition and it is the only way that the country will innovate and grow, he said. He gave the example of automobile sector that saw stagnation due to a long period of protectionism to domestic industry.