Mutual support need of the hour in mfg space

New Delhi: Commerce and Industry Minister Piyush Goyal on Thursday called on domestic businesses to look at ways and means to support each other in manufacturing and promote local firms like companies do in South Korea and Japan.

Suggesting three points, the minister said that Korea and Japan do not import Indian steel and purchase steel from their own players. "I think there is a need for shared responsibility amongst companies to address social and environmental challenges and support each other in domestic manufacturing. Look at Korea, they just do not allow Indian steel manufacturer to export to Korea, that's the nationalistic spirit there.

"Japanese companies do not allow Indian steel in Japan. They will buy a $100 per tonne costlier steel but local Japanese steel. Many of you may have faced such barriers which are not government barriers that even I cannot fight 'G to G' (government to government). But it comes out of the spirit of nationalism. I think we in India also should look at ways and means to support each other, encourage each other and promote our own domestic brothers and sisters," he said while addressing the CII Manufacturing Conclave 2022.

Goyal also suggested big companies to integrate with MSMEs and ensure timely payment, and train young minds to get into manufacturing. Talking about the National Single Window System (NSWS), he expressed "disappointment" that businesses are not using this platform adequately. "When I see the number of people who have registered or people who are taking approvals on it (NSWS,) I get a little disappointed," he said, urging the industry to use the platform and suggest where they are facing problems.

On exports, he said it would cross $400 billion this fiscal. He expressed confidence that in February, exports would be over $30 billion.