Piyush Goyal meets Lenovo, Carrier leaders to deepen localisation opportunities
New Delhi, February 12
Union Commerce Minister Piyush Goyal on Thursday met with Lenovo and Carrier leaders to discuss various initiatives and opportunities.
On the social media platform X, Minister Goyal shared two separate posts about his meeting with Michael L. Gierges, President - Asia Pacific, Middle East and Africa, Carrier, and Matthew Zielinski, President, International Markets, Lenovo.
During his meeting with Gierges, Goyal said, "Discussions focused on Carrier's growing presence in India, its manufacturing and technology initiatives, and opportunities to further deepen localisation across the value chain and collaboration to strengthen India's industrial ecosystem."
While with Zielinski, Goyal discussed Lenovo's expanding operations in India, growing exports, and plans to deepen localisation across the electronics value chain. "We also exchanged views on key opportunities that India's FTAs offer and how the company can leverage them by enhancing collaboration in emerging areas such as data centres and AI," he said.
Earlier in the day, the minister also interacted with startups at the INDovation MedTech Innovation & Startup Showcase and felicitated the winners of the INDovation Program.
In another post on X, he said that at the event, he urged participants to focus on affordable, scalable MedTech products to serve India and the world.
"Highlighted how the recently concluded FTAs with the developed world are a big window of opportunity for our innovators to make India a reliable, quality healthcare partner globally," he said.
During the event, Piyush Goyal urged medtech startups to look beyond the domestic market, leverage India's expanding trade agreements, which cover nearly 70% of global GDP, and scale affordable innovations to serve both India and the world.
He noted that nine Free Trade Agreements concluded in the last three years cover 38 countries with strong per capita incomes, and that most developed markets now have trade arrangements with India.
Agreements include the 27-nation EU bloc, the four-nation EFTA bloc, the UK, Australia and New Zealand, the United States of America, and Japan and Korea, which were concluded earlier, along with ASEAN nations. He said India now has market access to 70% of global GDP, in most cases at zero duty for Indian products.
Goyal said startups should not limit themselves to the domestic market and should participate in global fairs and exhibitions. He assured that the Commerce Ministry would support delegations and that India's missions in over 190 countries are available to assist innovators. He also encouraged collaboration with global companies operating in over 100 countries to access developed markets.
Minister Goyal also stressed that innovation must address India's day-to-day needs and ground-level imperatives. He underlined the importance of showcasing success stories and urged Startup India, the private sector and the media to encourage entrepreneurs, including those who may not succeed initially.
— ANI
Reader Comments
As someone working in the tech sector, the focus on data centers and AI collaboration is crucial. India has the talent pool; we need the infrastructure and global partnerships to become a true hub. Good to see discussions moving in that direction.
While FTAs are great, I hope the localisation truly benefits our MSMEs and component manufacturers, not just the large corporations. The value chain development must be inclusive. The intent seems good, but execution will be key.
Affordable MedTech for India and the world is the right vision! We have brilliant innovators in tier-2 and tier-3 cities. If they get the right support to scale and access global markets, it can be a game-changer for healthcare accessibility.
The market access to 70% of global GDP is a staggering statistic. If Indian startups and manufacturers can leverage this with zero-duty access, it fundamentally changes the export game. This is strategic economic diplomacy at work.
I appreciate the minister's point about supporting entrepreneurs who may not succeed initially. The startup journey is tough. A supportive ecosystem that doesn't just celebrate winners but also learns from failures is vital for long-term innovation.
The meetings are promising, but I have a respectful criticism. We often
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.