NEW DELHI : Mr Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution and Textiles, Govt of India asserted that we need to recognize the importance of quality. "The Government is working to introduce quality standards in a much bigger way to help Indian manufacturing sector. In the next 2-3 years, we hope to significantly ramp-up the products which will have reasonably strict, but practical quality standards which will be made compulsory. This will help the manufacturing sector stand against irrational competition, increase scale of production and become more competitive," he added.
Addressing the 12th edition of 'MASSMERIZE 2023', organized by FICCI, Mr Goyal said that India will be an important consumer market and we are going to see more and more sustainability driving consumer demands. "It will be a virtuous cycle that we will have to create. There has to be a massive investment to create necessary infrastructure for the economy to rest," he stated.
The Minister stated that ONDC (Open Network for Digital Commerce) will help small retail survive onslaught of large tech-based e-commerce companies. "Our effort is to encourage small companies, startups to integrate into
e-commerce ecosystem. Like UPI democratized payment systems, ONDC will democratize benefits of e-commerce," he added.
Mr Goyal further stated that while doing our FTA negotiations, the focus is on opportunities that India offers. "Going forward, consumption will increase, with demand for good quality, sustainable products delivered smartly, that meet international standards at competitive prices. "Developed economies could not have become what they are today if they had not internationalized their economy. We need to engage with the world in a bigger way, focusing on scale, improving domestic logistics ecosystem, focus on quality sustainable goods," he added.
Mr Mohcine Jazouli, Minister Delegate to the Head of Govt, in-charge of Investment, Convergence and Evaluation of Public Policies, Kingdom of Morocco said, "Our two countries share a lot of values and similarities, and our goal is to transform Morocco as the leading player in the area of renewable energy with special focus on green energy."
Mr Subhrakant Panda, President, FICCI and Managing Director, IMFA Group said, "The Retail and FMCG industry holds the potential to be a significant contributor to the economy besides also creating entrepreneurs as well as generating employment.
E-commerce has expanded the reach of industry and ONDC will democratize access," he added.
