India’s Growth Playbook: Piyush Goyal’s Strategic Push for Exports, Investments, and Manufacturing Self-Reliance


Boosting Exports and Investments: Strategic Engagements with Global Corporates

In a bid to reinforce India's export momentum and global investment appeal, Union Commerce and Industry Minister Piyush Goyal has recently held key discussions with global business leaders.
Among the notable meetings:

  • L'Oréal India: Goyal met Aseem Kaushik, MD, and Krishna Vilasini Bharadwaj, Director of Corporate Affairs & Engagement at L’Oréal India.

    • Focus Areas:

      • Expanding exports of beauty and personal care products from India.

      • Skill development in the beauty sector, aimed at empowering youth with job-ready training.

      • Supporting the broader objectives of Make in India and Skill India.

  • Temasek: Goyal also held talks with Ravi Lambah, Head of Strategic Initiatives & India Head at Temasek, a Singapore-based global investment firm.

    • Key Discussion Points:

      • Temasek’s growing role in India’s innovation ecosystem and job creation.

      • Reinforcing Temasek’s strategic sector investments and future partnership potential.

      • Appreciation of the firm’s continued confidence in India’s long-term economic outlook.

PLI Review: Sharpening Focus on Self-Reliance and Sectoral Competitiveness

At a recent review of the Production Linked Incentive (PLI) Scheme, Minister Goyal emphasised the importance of:

  • Focusing on sectors where India holds a competitive edge globally.

  • Creating quality over quantity in skill training.

  • Removing infrastructure bottlenecks through synergy with the National Industrial Corridor Development Corporation (NICDC).

  • Developing a five-year roadmap for investment and PLI disbursement.

PLI Scheme Snapshot (Till March 2025):

  • Total Investments: ₹1.76 lakh crore

  • Production/Sales Generated: ₹16.5 lakh crore

  • Employment Created: Over 12 lakh jobs (direct and indirect)

  • Incentive Disbursed: ₹21,534 crore

  • Covered Sectors: 14, including Electronics, Pharma, Textiles, Automobiles, Telecom, and Food Processing.

Sectoral Highlights from PLI Implementation

Pharmaceuticals

  • Cumulative Sales: ₹2.66 lakh crore

  • Exports: ₹1.70 lakh crore in first three years

  • R&D Investment: ₹15,102 crore

  • Domestic Value Addition: 83.7%

  • Export Sales FY25: ₹0.67 lakh crore — 27% of India’s total pharma exports

Bulk Drugs

  • Transformed India from a net importer (₹-1,930 crore in FY22) to a net exporter (₹2,280 crore).

  • Boosted domestic manufacturing of KSMs, DIs, and APIs.

Food Processing

  • Investment: ₹9,032 crore

  • Production/Sales: ₹3.8 lakh crore

  • Jobs Created: 3.4 lakh

  • Promoted use of domestic agri-products, enhancing rural income and local sourcing.

  • MSME Focus: 70 MSMEs enrolled; 40+ function as contract manufacturers.

  • Value-Added Marine Product Sales: Grew at a CAGR of 22%

  • Millet-Based Product Sales: Increased 25x (2024–25 vs 2020–21)

  • Millet Procurement: Rose from 4,081 MT (2022–23) to 16,130 MT (2024–25)

Textiles

  • Man-Made Fibre (MMF) Exports:

    • FY25: USD 6 billion

    • FY24: USD 5.7 billion

  • Technical Textiles Exports:

    • FY25: USD 3.35 billion

    • FY24: USD 2.98 billion

Conclusion: India’s Growth Agenda in Action

With these high-level strategic meetings and performance-driven policy frameworks like the PLI scheme, India is laying the foundation for:

  • Robust export diversification

  • Deeper foreign investment

  • World-class manufacturing

  • Skilled employment generation

As Minister Goyal continues to position India as a global manufacturing and investment destination, the emphasis on quality skill development, sector-specific production capacity, and policy clarity will be key in sustaining momentum toward Viksit Bharat 2047.


Location: Pune, Maharashtra, India

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