Goyal was addressing a gathering here ahead of Prime Minister Narendra Modi announcing various measures for the Micro Small and Medium Enterprises (MSME).
PM Modi Friday announced 12 measures, which he termed historic, to boost MSMEs, which is the country's second largest employing sector.
The PM's event, held in Delhi, was streamed live at the gathering here attended by Goyal.
Speaking here, Goyal said, "He (Patel) was considered as pro-business and pro-trade. He believed it is necessary to promote business for improving the economy and creating employment opportunities."
"He (Patel) was basically a farmers' leader. But he knew that income of farmers will not improve until business activities are promoted. He always believed in promoting business and farming," Goyal added.
Speaking on India jumping 23 places on World Bank's latest 'Ease of Doing Business' ranking and reaching 77th place, Goyal expressed confidence that the country would soon break into the top 50.
"Our rank is now 77 in the Ease of Doing Business. By the end of the this government's five-year tenure, I am confident we will be in the top 50," the Union Minister for Railways, Coal and Corporate Affairs said.
"This was also one of the visions of Sardar Patel, as to how we can create a business friendly environment," Goyal said.
Commenting on Non Performing Assets (NPAs), Goyal said the PM has compelled big corporates to pay their dues by introducing tough measures.
"Though NPAs and stressed assets were mounting over the years, people did not know about it. NPAs were hidden under a carpet. The Modi government uncovered it. We are strengthening banks to improve their lending capacity. Our aim is to make sure that MSMEs, farmers and small borrowers get loans easily," Goyal said.