30.6 C
Delhi
Saturday, August 15, 2020

China loosing competitive edge, India can gain: Piyush Goyal

- Advertisement -

India must get back to 19-20% export growth: Piyush GoyalNew Delhi, Dec 12 (ANI): Union Minister of Commerce and Industry, Piyush Goyal on Wednesday said that China is gradually losing its competitive edge and India can gain a lot from the manufacturing sector which moves out of China.

The minister told the Lok Sabha that several initiatives are being taken by the Finance Minister and all the other colleagues in the government under the leadership of Prime Minister Narendra Modi to attract investment.

“China is gradually losing its competitive edge. India can gain a lot from the manufacturing sector which moves out of China. We are focused on certain sectors that are looking to move out of China,” Goyal said.

He said that Communications, Electronics and Information Technology Minister Ravi Shankar Prasad had interacted with several companies across the world.

“They have talked to him about their plans to come to India and set up manufacturing units in India. I am engaged with a number of companies across the world,” he said.

Goyal said he has met representatives of several companies in the United States and other parts of the world to encourage investments coming into India, “which is why FDI flows have gone up by 50 per cent in the last years over the previous five years.”

“I am confident, in the coming five years, we will see a further boost in domestic manufacturing and inflow of capital for investments. India will stand tall when it comes to engaging with the rest of the world and India will stand tall when we have to compete with any region of the world,” he said.

 

(Source: ANI)

Follow Us For Latest Updates -

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Topics

Covid 19 India Updates

Suresh Raina joins MS Dhoni, retires from international cricket

New Delhi, Aug 15 (IANS) Veteran batsman Suresh Raina joined former India captain MS Dhoni in formally announcing his retirement from all international cricket....

Trending Right Now

PM Modi hoists national flag on 74th Independence Day

New Delhi, Aug 15 (ANI): Prime Minister Narendra Modi on Saturday hoisted the national flag and is set to deliver the customary address to...