Goyal asks industry players to focus on turning competitive

Mumbai: Union Commerce and Industries Minister Piyush Goyal on Thursday asked the industry players to be bold and focus their energies on turning competitive, rather than depending on the government for support.

Speaking at an event organised by the IMC Chamber of Commerce here, Goyal asked till when will the industry depend on the “crutches” of subsidies, high import duties and other similar protectionist measures.

“Till when can we look up to the government (for support)? Or, till when can we win on crutches of subsidies and support, incentives, high import duties, the protectionist mindset, and being very defensive in our engagement with the world?”

“We as a nation will have to decide to get out of this protectionist mindset and weak-kneed thinking”, Goyal said, wondering if Michael Porter’s seminal work on competitive advantage is relevant only till industry leaders are in

business schools.

Competitiveness will come from the industry’s ability to innovate, upgrading manufacturing practices, skills and efficiencies, he made it clear.

“Unless we become competitive, the aspirations of 140 crore Indians will not succeed and we cannot achieve being a developed country,” he said.

Unless the country looks at upping its engagement with the world through trade, it cannot become a developed nation, Goyal said.

He, however, acknowledged that there will be a few exceptions in sectors where the country is indeed dependent on imports like oil, defence

and food.