Govt and industry can work together to find solutions to problems, says minister

Commerce and industry minister Piyush Goyal on Friday asked the industry to flag the countries that are placing non-tariff barriers on Indian exports and promised to take retaliatory action against such countries even as he assured the industry that India is the best place to invest in.

“It’s the place, where you get both, a competitive edge and a huge domestic market aspiring for a better quality of life,” Goyal said at the 92nd annual convention of Ficci, adding that India needs to get more competitive, and stressed on addressing the problems of the entire value chain, be it inverted duties, dumping, or unfair subsidies. He also pointed out that the industry and the government need to work together to rejuvenate that entrepreneurial spirit and find solutions to certain problems which are real. “The government will have to play the role of an enabler and facilitator and end harassment faced at the lower ends,” Goyal said at Assocham’s annual conference.

Commenting on India’s decision to drop out of the Regional Comprehensive Economic Partnership (RCEP) trade agreement, the minister said India did so because RCEP was turning out to be just an India-China FTA.

“We desire to work with the world on an equal and reciprocal terms,” Goyal said at the Ficci event.

Talking about the government’s aim to make India a $5 trillion economy by 2024, Goyal said the government has been doing a lot to support the startup culture and encourage entrepreneurship in the country. “India has a glorious future and $5 trillion is doable and shall be achieved,” he said.

Stating that the government and industry can together work on certain issues, he said: “We are very keen that we understand each other’s position, be it litigation, regulatory certainty and predictability, and seamless compliances. We can work together on these,” he said at the Assocham event.

The minister also suggested if automatic self-approvals can be looked at to start and run businesses.

Boiler Inspection:

Referring to the fact that the government now has over 370 experts certified to do any boiler inspection anywhere in the country, he said about 11 private sector organisations have been approved who can get their boiler inspected from anybody without going to the government.

For overall development, he suggested infrastructure and innovation along with inclusive growth, and pondered if funds for corporate social responsibility can be used for research and development.