India Has Capability to Be Global Player in Many Sectors: Piyush Goyal

Speaking on the free trade agreements (FTAs), he said, “We have to foster such collaborations with the developed countries which have large markets, and not nations like Chile and Peru.” India can surely be part of the global supply chain and also a reliable partner, Goyal said, adding that “building capabilities, scale and good manufacturing practices are the need of the hour”. EXIM Bank Managing Director David Rasquinha said India’s manufacturing and export sectors have to become globally competitive.

“Despite the growing private consumption demand, India’s gross value added (GVA) has decreased. EXIM Bank has commissioned a study on the policy constraints faced by some sectors like textiles, apparel, automobile, electronics and pharmaceuticals,” he added.