India’s Commerce and Industry Minister: 12 sectors with vast potential to axe import dependency, encourage exports; Aluminium spotted among

Piyush Goyal, Commerce and Industry Minister, Govt. of India on 13^th July’20 stated that certain sectors have been spotted with vast potential for India to slash its import dependence, encourage exports and endorse domestic manufacturing.

The Minister stood for 12 sectors; aluminium industry is incorporated among the recognized sectors.

Mr Goyal added: “COVID-19 pandemic has taught a big lesson that over-dependence on certain geographies can cause a lot of difficulties in the time of stress.”

While addressing the AGM of Bombay Chamber of Commerce, Piyush Goyal said: “In our ways, we have identified sectors where import substitution or export potential is there in a big way and I am sure that we can all work together to make this happen. We are looking at more sectors and I would urge all of you to look at new sectors where we can promote Indian manufacturing,"

He also ascertained that statistics and indicators are reflecting that India's economy is reviving.

The Minister quoted some examples of freight movement in railways, power consumption, operations in the cement industry, and export numbers are "clearly demonstrating that we are moving very rapidly towards a reasonable level of operation".

"I am very much seized of the fact that we will have to look at the plug and play infrastructure, we will have to look at genuine single-window clearance, we will have to make it affordable finance available to businesses, we will have to look at long term finance being available to businesses for infrastructure and manufacturing," he said.

In another event, Goyal said that the Government is inclined to dialogue to anybody in the world through missions at his level on India's interest for sectors of industry as a whole.