The minister urged the private sector to seize this opportunity.
Piyush Goyal, Minister of Commerce and Industry, announced that the government is establishing 12 new industrial parks across the country and has plans for 5-6 mega textile parks. He encouraged the private sector to seize these opportunities.
During a conference organised by the Confederation of Indian Industry (CII), Goyal called on industry leaders to assist the government in identifying policy and compliance issues affecting businesses. He also offered to reduce compliance burdens and decriminalise laws impacting businesses.
Reflecting on the government’s accomplishments over the past decade, Goyal remarked that both businesses and the public recognise the transformation in the Indian economy. He highlighted that the GDP has doubled, foreign exchange reserves have more than doubled, and the current account deficit has decreased significantly, demonstrating the impact of effective governance.
Goyal noted that countries worldwide are eager to establish free trade agreements with India and strengthen relations. He projected that by 2047, India would become a $ 35 trillion economy, driven by its young and aspirational population. He outlined the government’s focus on principles such as minimal government intervention, maximum governance, skill development, speed and scalability, transparency, and digitisation.
Looking ahead, the Minister emphasised that the government is committed to monitoring and prioritising issues to ensure the timely and cost-effective execution of projects. He stated that India is an outcome-oriented nation prepared to face future challenges.