UNION GOVERNMENT IS COMMITTED TOWARDS CREATING A CONDUCIVE ENVIRONMENT FOR BUSINESS GROWTH AND INNOVATION: UNION MINISTER PIYUSH GOYAL

APPRECIATES TELANGANA FOR ACTIVELY PROMOTING INVESTMENTS ACROSS VARIOUS SECTORS, MAKING IT A FAVOURABLE DESTINATION FOR BUSINESSES AND INVESTORS

Shri Piyush Goyal, Commerce & Industry Minister hosted an interaction with the Industry Stakeholders and leaders on 30th June 2024 at Hyderabad. 

The Outreach program was graced by Shri G. Kishan Reddy, Hon'ble Union Minister of Coal and Mines & Shri D. Sridhar Babu, Hon’ble Industries Minister, Govt. of Telangana. 

The interaction saw a participation of more than 200 stakeholders including Women Entrepreneurs, MSMEs, Chamber of Commerce, Industry Associations, Export Promotion Councils (EPCs), Start-ups, from various sectors namely:- Aerospace, Information & Technology (IT), Leather & Footwear, Logistics, Agro & Food, Pharma and Medical Devices with focus on Telangana to share their views, innovative suggestions and success stories. 

Some of the prominent Industry leaders/heads to attend the Outreach meeting included :- Cargo Exchange India, MPL, Jasper Shipping, Axis Energy Ventures India Pvt. Ltd., Mahindra & Mahindra, Tata Ltd., Welspun Group, Sree Educational Society, Autocracy Machinery, Airgap Technology, Telangana Industry Association, Dr. Reddy's Laboratories Ltd., Bharat Biotech Ltd., CII Telangana, Iswarya Agri Processors, Almelo Pharma, Aishwarya Enterprises, Federation of Pharma, Federation of Telangana Chamber of Commerce, MSME Unit of leather, Astro Talk, EPC Chairman, A Footwear Association, Founder, Rocket Space Company, Vision Labs, Vaccine Manufactures Assoc. Red Health, Fintech Industry, Poultry Industry, CII, and Verco Group of Companies.

Officials from the Ministry of Commerce & Industry showcased various initiatives such as Ease of Doing Business (EoDB), PM GatiShakti, Start-Up India, Intellectual Property Rights (IPR), NICDC, Free Trade Agreements (FTAs), Exports, GeM Portal and SEZs etc.

Shri D. Sridhar Babu, highlighted the significant growth potential for enhancing the exports in the State of Telangana. Further, he emphasised on making Telangana & Hyderabad the AI Capital and Skill Hub. 

Shri G. Kishan Reddy, stated that sustainable economy and technical advancement can be achieved by Public Private Partnership (PPP). He also emphasised on several transformative reforms such as GST, banking reforms and PLI Schemes for boosting local manufacturing in Telangana. 

Further, Industry Stakeholders shared their suggestions, raised various issues and requested the Government to address challenges, improve processes and usher in policy changes.

Shri Piyush Goyal emphasized the Government’s commitment towards creating a conducive environment for business growth and Innovation. He highlighted the importance of having such interactions in understanding the challenges faced by the Industry and incorporating their feedback into policy-making. He stated that their insights would be instrumental in shaping policies that foster economic development and Ease of Doing Business in India.

The Ministers noted suggestions of the Stakeholders including MSMEs & Startups and recommended the Govt. officials to examine the issues raised and take further action. He reiterated that the Centre & State Government are working together towards betterment of the country leaving aside all the political differences. 

Shri Goyal further, emphasized the Government's commitment towards fostering a robust Industrial ecosystem that supports innovation, sustainable growth, and global competitiveness. He highlighted the pivotal role of Industry stakeholders in achieving the nation's ambitious Vision 2047.

He appreciated that Telangana has been actively promoting Investments across various sectors, making it a favourable destination for businesses and investors. Investors looking at Telangana can benefit from its proactive Government policies, strategic location, skilled workforce, and a strong Industrial base. He ensured support of Central Government for the Development of Airports, setting up of Industrial Parks, etc. subject to land provided by the Govt. of Telangana.

Shri Goyal acknowledged the constructive inputs and reiterated the Government’s resolve to work collaboratively with the Industry to achieve these goals.

Ease of Doing Business: government commits to regulatory simplification and industry engagement to boost investment and innovation. The central government committed to fostering a conducive business environment by advancing Ease of Doing Business, Start Up India support, Intellectual Property Rights facilitation, Free Trade Agreements, SEZs, GeM adoption and export promotion; convening broad industry stakeholders to solicit feedback on constraints affecting MSMEs, startups and sectoral investors and directing officials to examine and act on recommendations to promote investment, infrastructure provision, PPP mechanisms, technology and skills development and regulatory simplification.