Protect consumers from high inflation: Commerce minister Piyush Goyal to India Inc

The Swiss resort town of Davos is best known for the World Economic Forum’s annual meeting, where business and political leaders brainstorm solutions to global issues.

CNBC-TV18’s Shereen Bhan is covering the event on the ground and on Wednesday, spoke to Union Commerce and Industry Minister Piyush Goyal, Deloitte Global CEO Punit Renjen, CII President and Bajaj Finserv CMD Sanjiv Bajaj, Deloitte India CEO N Venkatram, Apollo Hospitals Executive Vice Chairman ; Shobana Kamineni, and CII Director-General Chandrajit Banerjee.

Goyal spoke about the government’s trillion-dollar aspiration and his expectations from the Indian industry during these times of turmoil.

Goyal said, “All of you in Indian industry can also support the government so that we don’t need to take too many steps. So a little bit proactive approach by Indian companies, by Indian sectors on their own, to ensure that we can all work in an orderly fashion and shop prices are low, will actually save the government from taking any formal steps, but will help all of you in the long run.”

He added, “I would urge Indian industry also to reflect what they can do to ensure that commodity prices or our people do not suffer the consequences of high inflation.”