Indian Economy News

Union Minister Piyush Goyal inaugurates NEST-02 at SEEPZ, Mumbai

The second phase of the New Enterprises & Services Tower (NEST-02) at Santacruz Electronics Export Processing Zone (SEEPZ) in Mumbai was officially inaugurated on 4th March 2020 by Shri Piyush Goyal, Union Minister of Commerce and Industry. The inauguration is a significant initiative for strengthening the Electronics and Export Ecosystem in India. In addition to his role as Union Minister, Mr. Goyal was also addressing Industry Representatives. He made several points during his address, including the need for “the SEEPZ to align its Functioning, Productivity and Overall Performance with India’s broader Economic Growth Path”. This becomes more important as India moves toward becoming a Global Hub for Manufacturing and Services. 
The Minister was very focused on the importance of skills development (skilling) and said that skilling will play a central role in India's economic growth and future competitive advantage. He called on SEEPZ units to invest in scaling up their training activities by establishing dedicated training programmes for specially abled youth so that we continue to develop an inclusive workforce. He stressed the urgent need to establish fair and transparent processes for the auction and allotment of SEEPZ land, and to ensure optimal and equitable use of SEEPZ land while preventing misuse. Mr. Goyal called on all industries to embrace the vision of Atmanirbhar Bharat (self-reliant India), to promote Swadeshi (indigenous) opportunities, to maintain global-quality manufacturing processes, and to develop their domestic capabilities to take advantage of emerging market opportunities.

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