New Delhi
Union Commerce and Industry Minister Piyush Goyal, while addressing the ‘Creation of Global Impact in the direction of India’ organized by Assocham, emphasized that India would enter international trade agreements only when they meet the interests of the country. He described the interest of the country as paramount. Addressing a group of industry leaders and entrepreneurs, he emphasized the importance of changes in mentality in the Micro, Small and Medium Enterprises (MSME) sector. He called for a change in the direction of collective development and mutual cooperation between small and big companies. He said that we need a change in goals, guidance and mindset. Be it big or small, companies will have to grow simultaneously. We have to support each other and be vocal for local interests.
He said that small and medium enterprises (MSMEs) would have to pay attention to research, new ideas, quality and expansion to compete globally.
He urged the MSME stakeholders to actively inform the government about the non-fee obstacles that are affecting their businesses. Goyal said to the veterans of the industry that only when you inform us, only then we can raise these issues during bilateral discussions and work towards their solution.
Considering the comprehensive economic structure, he compared the current banking system to the tenure of the previous UPA government. He said that the government led by Prime Minister Narendra Modi has successfully restructured the banking sector. During the UPA rule, the banking sector collapsed due to the increasing NPA. We have reorganized it in a transparent manner. Today, the banking system is strong and performing well.