Overview
- Speaking at CII IndiaEdge 2025, Piyush Goyal urged companies to accelerate indigenisation and diversify sources, warning that over-concentration leaves industry exposed to the weaponisation of trade.
- He said he still does not see sufficient urgency from India Inc, calling on firms to identify weak spots, build control over critical inputs and pursue a twin approach of leveraging advantages while decoupling where necessary.
- Goyal pressed businesses to ensure prompt payments to MSMEs, arguing that easing cash-flow constraints would strengthen manufacturing and support job creation.
- He noted that 23 states have framed rules for the new labour codes, alongside continuing efforts to decriminalise business provisions and reduce compliance burdens.
- Offering a positive macro backdrop, he cited Q2 GDP growth of 8.2%, unusually low inflation, a rupee at a record low of ₹90.25 to the dollar, resilient merchandise exports in November, and close attention to the upcoming Monetary Policy Committee decision.