Indian businesses should transform global uncertainties into growth prospects: Piyush Goyal
Commerce and Industry Minister Piyush Goyal has said that Indian businesses should transform the current global economic uncertainties into growth prospects and avoid panicking over the situation. According to him, the present global situation and geopolitical uncertainties should be viewed as an opportunity for India to improve business processes, speed up reforms, increase resilience and strengthen supply chains.
He stated ‘India and Prime Minister Narendra Modi have never let a crisis go by and the situation in the world is truly an opportunity, a moment of uncertainty that we should engage more deeply with. Find ways to strengthen our business processes and prepare ourselves on these uncertain times for brighter and better future.’ He pointed out that lessons learnt during the COVID period had demonstrated the effectiveness of digital engagement and remote working models.
He said ‘In this scenario, there is no need to panic’. He noted that the West Asia crisis and emerging technologies such as AI bring opportunities for Indian industry to seize. He urged industry to become more efficient and cut waste by learning from global best practices, including Japan’s manufacturing methods.
