Diversification of exports and consolidating current areas of strength is necessary for our economy to grow: Piyush Goyal

Piyush Goyal, Union Minister for Commerce & Industry and Railways, said that the future of growth lay with industry and the private sector, with the government having a lesser role to play. The Minister identified three important methods to increase India's exports; reviving manufacturing, diversifying the exports basket, and finding newer and more accepting markets. He emphasised that the diversification of exports, in addition to consolidating current areas of strength is necessary for our economy to grow. He stated that India has a huge opportunity to promote indigenous production in auto component sector, furniture, air conditioners, and others. MeitY is promoting electronics production, in pharma we are encouraging API manufacturing. Similarly, in the agri export sector the opportunity is huge, he mentioned.

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