Indian Economy News

Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textiles, Mr. Piyush Goyal, commends the remarkable contribution of the consumer electronics industry in India

On December 7, 2023, the Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textiles, Mr. Piyush Goyal, commended the remarkable contribution of the consumer electronics industry in India. During the 44th Annual Feature' of the Consumer Electronics and Appliances Manufacturers Association (CEAMA) in New Delhi, the Minister highlighted the significance of collaboration between the industry and the authorities to obtain collective targets.

He emphasised the need for India to seize opportunities, engage globally, and embrace competitiveness for sustained growth. He highlighted the importance of meeting consumer demands for high-quality and competitively priced products, urging the industry to prioritise quality and support the Indian ecosystem. The Minister emphasised issuing Quality Control Orders (QCOs) to benefit consumers and the industry, encouraging companies to choose Indian-made components and products to promote job creation and enhance competitiveness in local and global markets.

He urged people to become Viksit Bharat Ambassadors, a program Prime Minister Mr. Narendra Modi initiated to build a corruption-free India with people-powered development. He emphasised the need for a change in mindset and innovative approaches, projecting India's story as the world's fifth-largest economy with imminent prospects of becoming a five trillion-dollar economy soon. The Minister highlighted India's young demographic dividend and its success in curbing double-digit inflation to a benchmark of 4% plus or minus 2%, pivotal in the country's journey towards becoming a developed nation. He also highlighted various social welfare initiatives led by the government, including free food grains provision, housing for the underprivileged, electrification of every village and household, and expansion of healthcare services.

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