India can become a global manufacturing, export hub for eyewear: Piyush Goyal

New Delhi, May 14 Commerce and Industry Minister Piyush Goyal on Wednesday met Peyush Bansal, Co-founder and CEO of Lenskart, and discussed how India can become a global manufacturing and export hub for the eyewear sector.

In a post on X, the Union Minister said he was “pleased to learn” about the company’s impactful social initiatives.

“Met Peyush Bansal, Co-founder and CEO of Lenskart, and discussed how India can become a global manufacturing and export hub for eyewear,” said Goyal.

“I was pleased to learn about the company’s impactful social initiatives to expand access to vision care across the country,” he added.

In March this year, the eyewear maker laid the foundation stone for its manufacturing facility near Hyderabad. It would be one of the largest eyewear manufacturing facilities globally.

The facility will utilise cutting-edge technology to produce eyewear and related products, setting new standards for quality and innovation in the eyewear manufacturing sector, according to the company.

Meanwhile, the Commerce Minister held a comprehensive review of Invest India at a meeting held at Bharat Mandapam in the national capital. The minister emphasised on enhancing the performance, effectiveness and efficiency of Invest India to facilitate greater investments into India.

He also discussed avenues for further strengthening investor engagement, empowering MSMEs and boosting manufacturing in the country.

Invest India is the national investment promotion and facilitation agency of the Government of India and helps to expedite approvals for the setting up of manufacturing enterprises by speeding up clearances that are required, such as those for the allotment of land.

India's manufacturing sector is a significant part of the country's economy, contributing about 17 per cent to the GDP and employing over 27.3 million workers. The government aims to increase its share to 25 per cent by 2025, driven by initiatives like the ‘Make in India’ policy and Production-Linked Incentive (PLI) schemes.

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