Digital economy, adoption of tech will help achieve $5-trn economy: Goyal

Adoption of technology and the digital economy would play a vital role in transforming business enterprises in the future and achieving the target of $5 trillion economy, Commerce and Industry Minister Piyush Goyal said on Saturday.

He said this while addressing the 49th governing council meeting of National Productivity Council (NPC), an autonomous body under the Department for Promotion of Industry & Internal Trade (DPIIT).

He also stressed the role of productivity in the transformation of any organisation.

The minister also suggested NPC to work closely with all the stakeholders and emphasised on adopting the best practices from around the world.

Some of the suggestions made in the meeting include the formulation of specific action plans by NPC especially in agriculture and logistics sectors, identification of champion sectors which has the potential to drive the economy, adoption of technology to increase productivity and delivering cost-effective solutions for the marginalised sector.

Interlinking of academia and industry for the creation of a highly skilled labour force, financing of specific products to support Micro, Small,and Medium Enterprises (MSMEs) and increase their productivity, and national audit on security impact.