Piyush Goyal encourages engineering community to achieve US$100 billion export target in engineering services, design, construction, and R&D by 2030

Goyal highlighted India’s growing global stature, as evidenced by the successful organization of the G20 Summit 2023 under India’s Presidency. The world’s recognition of India’s capabilities and leadership is evident from the adoption of the G20 New Delhi Leaders’ Declaration on the first day of the G20 Summit 2023 with significant and bold decisions, he added. He said that India’s voice is becoming the voice of not just the Global South but also the world now.

The Minister called upon all Indians to celebrate this as a collective success of 140 Crore Indians. He urged Indian companies to expand globally, capturing new markets and leveraging India’s abundant talent pool of STEM (Science, Technology, Engineering, or Mathematics) graduates to become leading global companies in their sectors.

Goyal encouraged the engineering leaders to consider the German model of specialization and certification in specific areas, suggesting that having specialists and generalists within the engineering field could contribute to India’s growth and innovation. He noted that India’s National Education Policy, introduced in 2020, has opened doors for lateral changes in education, allowing students to explore diverse fields midstream. This flexibility, he believes, will lead to a more skilled and diverse workforce. He recounted how the older policies in the country constrained the choices for students.

Furthermore, Goyal called upon the Services Export Promotion Council (SEPC) and the Institution of Engineers (India) (IEI) to conduct a study on international practices that restrict Indian engineering firms’ participation in global projects. The Minister emphasized that the Government under the leadership of the Prime Minister Shri Narendra Modi will explore reciprocal actions based on this research study to ensure a level playing field for Indian engineers and businesses.

Regarding India’s stance on global trade, Goyal emphasized the country’s commitment to fair and balanced Free Trade Agreement (FTA) negotiations. He emphasized that India’s approach involves extensive consultations with stakeholders to ensure equitable deals that benefit the nation’s businesses, professionals, and MSMEs. He said that the aim is to enter into an FTA which is a win-win for both countries.

Goyal said that we are not able to leverage the FTA as much as the other countries are able to do. He quoted the Prime Minister and said, “There comes a time in the development journey of every country when the country redefines itself afresh & pushes forward with new resolutions. Today, that time has arrived in the development journey of India”.

The Minister highlighted the importance of celebrating Engineers Day, emphasizing that it inspires individuals and the nation to reach for greater heights. The occasion served as a moment of reflection on past achievements and a call for innovation and global leadership. In the spirit of Prime Minister Narendra Modi’s vision for a self-reliant and globally influential India, Goyal underscored the importance of collaboration, innovation, and confidence in India’s engineers as they embark on a journey towards global leadership.