Time for India to redefine itself: Piyush Goyal, Union Minister

New Delhi : The time has arrived in the development journey of India when the country will redefine itself says Shri Piyush Goyal, Hon’ble Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Government of India at an ASSOCHAM event.

 

Speaking at the session on ‘The great reset: Reinforcing India’s global positioning’’ hosted by the chamber, Shri Piyush Goyal said that ASSOCHAM and the country’s history and growth goes hand in hand as he recounts the important role the chamber played in helping the country face calamities from time to time.

 

“We are working very closely with industry on FTA or Comprehensive Economic Partnership Agreements (CEPA). We concluded the UAE CEPA in 88 days and it is a global benchmark. This is by far the most comprehensive partnership of two nations that is starkly different from each other in terms of size, products, opportunities, investment opportunities and many others. With a $60 billion two-way trade and aspiration to take it to $100 billion and $150 billion in the near future. This is the speed with which we would like to work with other countries for an FTA. Third round of negations are set to start for various countries and we are putting in our best foot forward”.

 

“Union budgets in the past few years have re-enforced our commitment to Atmanirbhar Bharat. Through bold reform measures, we are hoping to become a global manufacturing giant as well as a global player in international trade. We have to really increase our exports to finance our imports and strengthen the rupee in the days to come. Through the PLI schemes, we are looking at about 6 million jobs, additional production of at least 30 lakh crores in the next 5 years and attracting huge investments into the country. Both domestic and international players are looking at India as a big opportunity to make in India for the world and to serve from India the rest of the world. Start-up’s play a key role in creating a strong and vibrant economy. The mood in the nation is full of potential and we are making rapid strides in the start-up eco-system and we have a bright future which we are yet to fully capture.”

 

“Today’s session theme is central to the main theme of bharat@100 and is aligned to the growth aspirations and visions laid by the government. We have emerged stronger from the Covid crisis and have been able to espouse the cause of Atmanirbhar Bharat. Today the narrative has moved from why in India to why not in India. Possibly for the first time ever, 25% of the GDP will be contributed by exports of both goods and services. I am working closely with the industry on improving quality standards. Productivity gains will help us become more competitive and the hallmark of India of the future will be quality, productivity, and efficiency” added the minister.

 

Shri Vineet Agarwal President, ASSOCHAM and Managing Director, Transport Corporation of India Limited said, “It is a real game changer when government is not only willing to listen but also views business as a force of change for the betterment of the society. With a strong and decisive actions taken by our government, from handling Covid and vaccine distribution to the numerous long-term measures to not just improve the ease of doing business but also ease of living, the great reset is already underway. From Atmanirbhar Bharat, PLI scheme, national infrastructure pipeline and the PM Gati Shakti multi-modal initiative and single window portal along with the national monetization plan, each new initiative is bolder that the other. These initiatives have firmly cemented the country’s prospect as the leading economy of the world. We are on our way to surpass US$ 400 billion in exports this financial year.”

Shri Sumant Sinha Sr. Vice President, ASSOCHAM, Chairman and Managing Director, ReNew Power said, “As India successfully comes out of the omicron phase of the pandemic with its economic engine humming strongly and its robust democracy an example to the world, it is poised to enhance its global stature as a major and highly respected power. From booming exports to the rising number of unicorns to a successful vaccination program against Covid-19 to its leadership in the fight against climate change and its significantly improved business climate, India is in pole position to remain the world’s fastest-growing major economy, despite recent geo-political, energy, and economic shocks. The country under the dynamic leadership of Prime Minister Narendra Modi is on the cusp of history to establish itself as a global strategic and economic superpower. It is for all stakeholders, including business leaders, policymakers, educationists, NGOs, innovators and farmers, to ensure that we seize this unprecedented opportunity with both hands, so that all our people can benefit.”

 

Addressing the session, Shri Ajay Singh Vice President, ASSOCHAM, Chairman and Managing Director, SpiceJet said, “ASSOCHAM will firmly standby the government and try and align itself with the government’s objectives. The goal of $ 5 trillion economy is just the start, and we are ready to support the government in every way we can. During covid, we did our best to transport people and vaccine as and where needed. Currently all airlines are trying to play a role in the success of Operation Ganga. As an industry, aviation is facing challenges with oil prices. However, we are working on the national objective of ensuring connectivity to small cities.”

 

The session was attended by industry veterans like Dr. Niranjan Hiranandani Immediate Past President, ASSOCHAM and Co-Founder & Managing Director, Hiranandani Group of Companies, Shri Suhail Nathani Co-founding Partner, ELP, Shri Deepak Sood Secretary General, ASSOCHAM, Shri V R Sharma Co-Chairman, ASSOCHAM National Council on Iron & Steel and Managing Director, JSPL.

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