Hyderabad, Oct 29 : Quality and exports will define new India and its economy ” said Piyush Goyal, Union Minister for commerce & Industry here on Friday. In an interactive meeting with the trade and industry leaders on Enhancing Global Opportunities for Indian Manufacturers organized by FTCCI here, Goyal said that we are moving towards a quality based economy like developed countries. Quality should be our fundamental principle . Quality gives us the highest return with lowest cost. Today 90 per cent of gold sold in India is hallmarked and future of India is to produce and demand quality products, he said while addressing issues on Pharma , Gold & Gems, Plastic and granite industry. “I am happy to be in Hyderabad and Telangana which gave India the first indigenous vaccine for Covid, Covaxine and also proud to share that my family and myself were vaccinated with Covaxine”, he said. As part of atma nirbhar bharat, our duty is to make, make in India successful, he said as recently shared by Prime Minister Narendra Modi , I request all Indians to spend at least 5 percent of their travel budget to but local goods and encourage our artisans ” Goyal added FTCCI President Anil Agarwal said that we commend the efforts of the government for unveiling a $27 billion worth PLI scheme for 13 sectors to help integrate Indian companies into the global value chains and tap into the opportunity. The PM Gati Shakti – National Master Plan (NMP) which brings together 16 ministries to enable integrated planning and coordinated implementation of infrastructural connectivity will surely boost trade and commerce by lowering logistics costs significantly, he said. The reduction of corporate tax rate for new manufacturing to 15 per cent attracts investors from domestic as well as international players, he said. We thank the Minister for addressing most of the issues and following up with concerned departments for taking necessary action, he added. Mr Srinivas Garimella, Chair Industrial Development Committee FTCCI, requested the minister among others things to consider include Pharma Sector in the RoDTEP ( Remission of Duties and Taxes on Exported products); Consider anti-dumping duty on imports of synthetic yarn from SAFTA countries ; Either remove export duty on Non-Basmati rice or have a threshold limit based on price rather than on category and Mini PLI schemes to MSMEs ( Agencies)
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