The minister said greater collaboration between the government and technology companies would be essential to accelerate innovation-led and technology-driven economic growth. His remarks came during a meeting with a delegation from Google, where discussions focused on expanding the use of AI and digital solutions across different sectors of the economy.

The Google delegation was led by Vidya Srinivasan, Vice President (Ads and Commerce), and Preeti Lobana, Vice President and Country Manager of Google India. The meeting explored opportunities to leverage emerging technologies to improve productivity, competitiveness and market access for businesses, particularly small and medium enterprises.

According to Goyal, AI-powered tools have the potential to help smaller businesses overcome operational challenges and participate more effectively in the digital economy. As India continues its push towards digital transformation, policymakers are increasingly viewing technology adoption as a key driver of growth for enterprises that form the backbone of the country's economy.

MSMEs contribute significantly to employment generation, exports and manufacturing output. Industry experts have often pointed out that wider adoption of digital tools can help these enterprises improve efficiency, access new customers and compete in both domestic and international markets.

During the discussions, particular emphasis was placed on enabling startups, exporters and small businesses to take advantage of AI-driven solutions. The participants also examined ways to encourage innovation, improve digital capabilities and create an environment where businesses can adopt advanced technologies more easily.

Goyal said the meeting covered several important areas, including faster adoption of AI, strengthening digital skilling initiatives, expanding market access and promoting technology-led innovation. He later shared details of the interaction on social media platform X, stating that stronger cooperation between the government and technology companies could help build a robust digital ecosystem for Indian enterprises.

The focus on AI comes at a time when countries around the world are investing heavily in emerging technologies to boost productivity and economic competitiveness. India has also been working to expand its digital infrastructure and encourage businesses to integrate technology into their operations.

Earlier in the day, Goyal also spoke about the impact of India's recent Free Trade Agreements (FTAs), saying they are helping accelerate manufacturing growth and innovation across sectors. According to the minister, these agreements are creating new opportunities for Indian businesses while enabling young professionals to compete more effectively in global markets.

His comments reflect the government's broader strategy of combining trade expansion with technological advancement to strengthen India's position in the global economy.

Separately, while virtually addressing the launch of the online bilingual Bachelor of Business Administration (BBA) programme at the Indian Institute of Management (IIM) Udaipur, Goyal urged students to focus on practical skills and technology-oriented learning.

He encouraged young learners to embrace emerging technologies and develop industry-relevant capabilities that can help them succeed in a rapidly evolving job market. The minister noted that technology-driven education and continuous skill development would be critical for preparing India's workforce for future economic opportunities.

The government has repeatedly emphasised the importance of digital adoption, innovation and entrepreneurship as key pillars of India's growth strategy. With AI increasingly influencing sectors ranging from commerce and manufacturing to education and services, policymakers are seeking greater collaboration between industry, academia and technology companies to ensure that businesses and workers can benefit from the next wave of digital transformation.

With a growing presence in the market, the company had established a reliable network of dealers and distributors. 

However, internal inefficiencies and a lack of standardized processes were limiting its ability to scale efficiently. Seeking a structured approach to growth, Petro Industech partnered with Bada Business Private Limited under the Cash Growth Program (CGP), led by Dr. Vivek Bindra.

Prior to the collaboration, Petro Industech faced multiple operational challenges. Training new employees was time-intensive, with onboarding cycles extending up to 90 days. This slowed down workforce productivity and added to operational costs.

Meetings within the organization lacked structure and accountability. Discussions were often prolonged, with limited clarity on outcomes, affecting both decision-making speed and execution.

From a market perspective, the company was operating in the standard product segment, competing largely on price. This restricted margins and offered limited room for brand differentiation in an already crowded category.

The distribution side also lacked a defined system. Without a structured onboarding strategy, expanding the distributor network was inconsistent and dependent on informal processes.

Following its collaboration with Bada Business Private Limited, Petro Industech initiated a comprehensive transformation focused on process optimization and performance tracking.

One of the most impactful changes was in employee onboarding. With the implementation of structured SOPs and training modules, the company reduced its onboarding time from 90 days to just 3 days. This 97% reduction significantly lowered training costs and ensured faster deployment of human resources.

The introduction of MIS dashboards brought a shift towards data-driven decision-making. Meetings were streamlined into focused 30-minute sessions with clear agendas and measurable outcomes. 

This change alone resulted in a 70% improvement in team productivity, enabling faster and more effective execution.

Strategically, the company transitioned from standard products to premium offerings. This repositioning allowed Petro Industech to enhance margins while continuing to leverage its existing sales network, creating a pathway for 3X growth.

On the distribution front, a structured onboarding model was introduced. With defined selection criteria, engagement mechanisms, and expansion plans, the company increased its distributor network by 66%, strengthening its market reach.

The transformation was driven by a deep analysis of operational data and process gaps across departments. Standard operating procedures were developed and implemented to ensure consistency, reduce dependency on individuals, and improve overall efficiency.

HR processes were optimized through structured training systems, while real-time performance tracking ensured accountability across teams. Sales and distribution strategies were aligned with long-term growth goals, enabling the company to scale systematically.

With these changes in place, Petro Industech is now on track to achieve a projected 300% growth, supported by improved productivity, a stronger distribution network, and a more strategic product positioning.

Reflecting on the transformation, Nitesh Khuranna said, "Under the guidance of Dr. Vivek Bindra and the Cash Growth Program, we have been able to bring discipline and structure into our business. The improvements in productivity and efficiency have positioned us strongly for long-term growth."

Petro Industech’s journey highlights how MSMEs can unlock significant value by adopting structured frameworks, leveraging data, and aligning operations with clear strategic goals.