Consumers’ focus on local products to help create job opportunities: Piyush Goyal

By: |
December 24, 2020 5:16 PM

As consumers emphasise more on quality products and services at the right price manufactured in the country, it will create more jobs for the youth and help in accelerating the growth of the country's economy, Goyal said while addressing a virtual event on the occasion of the National Consumer Day.

He said it is a collective responsibility of both the consumers and the manufacturers to become vocal for local, which will help in providing jobs for everyone in the country and also help in growing the country's export share in the global markets.He said it is a collective responsibility of both the consumers and the manufacturers to become vocal for local, which will help in providing jobs for everyone in the country and also help in growing the country's export share in the global markets.

Union Commerce and Industry Minister Piyush Goyal on Thursday said the focus on ‘Vocal for Local’ and manufacturing of value-added products in India can create job opportunities for the youth and boost economic growth of the country.

As consumers emphasise more on quality products and services at the right price manufactured in the country, it will create more jobs for the youth and help in accelerating the growth of the country’s economy, Goyal said while addressing a virtual event on the occasion of the National Consumer Day.

“The economy is consumer-driven and 130 crore consumers in the country have the power to decide how fast the economy of the country can grow. The more value-added products are manufactured in the country, the more jobs opportunities it will create in the country,” he added.

He said it is a collective responsibility of both the consumers and the manufacturers to become vocal for local, which will help in providing jobs for everyone in the country and also help in growing the country’s export share in the global markets.

The minister further said that if the youth demand the best-quality products at the right price and not get attracted to the low-quality or low-priced product, this will force the manufacturers to produce and sell quality products across the country at the right price.

“This will also help the industry to take up this as a challenge to only sell good-quality products or the consumers will reject them,” he added.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1GST exemption on domestic supplies, commercial imports of COVID drugs to make them costlier: FM Sitharaman
2Govt extends antidumping duty on seamless tubes, pipes till October
3Exports rise 80 pc to $7 bn during May 1-7