Adopt best practices to reduce import dependency: Goyal to industry

Union Minister of Commerce & Industry Piyush Goyal on Sunday urged industry stakeholders to adopt best practices to reduce import dependency.

In his address at the CAPEXIL’s Vibrant Buildcon-2025 here today, the minister asked industry stakeholders to adopt best practices in sustainability, reduce import dependency, focus on clean and green construction and work towards earthquake-resistant and modular infrastructure.

He also highlighted India’s growing strength in the construction ecosystem — from global capability centres to domestic manufacturing.

He underlined the importance of key sectors such as housing, infrastructure, commercial real estate, railways, airports, highways, and energy. “Every element, from cement and electricals to security systems and automation, plays a part in this ecosystem,” he said.

Goyal said the rapid infrastructure development had happened under the leadership of Prime Minister Narendra Modi. “The PM conceptualised world-class convention centres like Bharat Mandapam and Yashobhoomi, both of which were built during the pandemic. These state-of-the-art venues have hosted global events such as the G20 Summit, BharatTex, Bharat Mobility and Startup Mahakumbh,” he said.

The minister listed several major government initiatives, including 20 new smart industrial cities, improved tourism infrastructure across 50 destinations, and 100 new industrial plug-and-play hubs. “If we are to move from a $4 trillion economy today to a $30-35 trillion economy by 2047, every citizen must contribute to Viksit Bharat-2047,” he said.

He also noted that today India was fostering collaboration and reimagining the future with a convergence of minds. “Vibrant Buildcon is only the beginning of the transformation of our construction ecosystem under one umbrella,” he said.