In a meeting with Peyush Bansal, co-founder and CEO of Lenskart, on Wednesday, Commerce and Industry Minister Piyush Goyal talked about how India may develop into a major hub for the production and export of eyewear worldwide.
The Union Minister said on social media site X that he was “pleased to learn” about the company’s significant social projects.
Goyal added, “I met Peyush Bansal, co-founder and CEO of Lenskart, and we talked about how India can become a global center for eyewear manufacturing and exports.”
He continued, “I was happy to hear about the company’s significant social efforts to increase access to eye care nationwide.”
The foundation stone for the eyeglasses manufacturer’s manufacturing site near Hyderabad was placed in March of this year. It would rank among the biggest factories in the world for producing eyewear.
According to the corporation, the facility will use state-of-the-art technology to manufacture eyewear and related items, establishing new benchmarks for quality and creativity in the eyewear manufacturing industry.
In the meantime, the national capital’s Bharat Mandapam hosted a meeting where the Commerce Minister conducted a thorough evaluation of Invest India. The minister stressed on strengthening the performance, effectiveness and efficiency of Invest India to encourage increased investments into India.
He also talked about how to encourage MSMEs, increase manufacturing in the nation, and further strengthen investor participation.
By accelerating necessary permits, like those for land allocation, Invest India, the Government of India’s national investment promotion and facilitation agency, helps to speed up approvals for the establishment of manufacturing businesses.
With approximately 27.3 million people and a GDP contribution of over 17%, India’s manufacturing industry plays a vital role in the nation’s economy. With the help of programs like the Make in India strategy and Production-Linked Incentive (PLI) schemes, the government hopes to raise its participation to 25% by 2025.
Read More
After geopolitical tensions subside and inflation slows, the Sensex and Nifty open higher
Today’s high-level CCS meeting will be chaired by PM Modi