 "Govt's focus on FDI liberalisation to boost industrialisation: DPIIT")
DPIIT Secretary Amardeep Singh Bhatia on Thursday said the government's focus on FDI liberalisation, smart industrial townships, and sector-specific parks, especially in Tier 2 and 3 cities, is contributing to India's industrialisation.
He was speaking at a panel discussion at the 97th AGM and annual convention of FICCI.
He also emphasised that the Department for Promotion of Industry and Internal Trade (DPIIT) is creating a conducive ecosystem for industrial development, with support from various ministries.
Initiatives like the National Industrial Corridor Program, Production Linked Incentive (PLI) scheme, and the ease of doing business reforms have facilitated industrial growth, Bhatia said.
Kamran Rizvi, Secretary in the Ministry of Heavy Industries, who also participated in the discussion, emphasised the rapid pace of change driven by electrification and the need for industries to adapt to this shift.
He highlighted how the Ministry of Heavy Industries is playing an active role in India's growth with a focus on cost-effective manufacturing and increased domestic value addition, especially in the electric vehicle sector.
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Rizvi also said that India's strength lies in its robust industry, positioning the country on a path toward a resilient, sustainable and globally competitive future.
Anant Goenka, Vice President of FICCI and Vice Chairman of RPG Group, stressed that private investment is aligning with the domestic demand and, he remains optimistic about its growth prospects.
He also highlighted the transformative potential of sector-specific industrial parks, drawing lessons from SEZs in India and other countries, to enhance manufacturing competitiveness.
Industry body FICCI also organised a panel discussion with top leaders in the industry during the session 'Women-led Growth'.
The session emphasised the critical role of women in driving India's economic and social transformation.