Golden time to invest in India, Goyal tells business community

LOS ANGELES: Union Minister for Commerce and Industry Piyush Goyal while interacting with the business community of Southern California said this is a golden time to invest in India. The minister also invited them all to be a part of India’s journey towards becoming a developed nation.

Minister Goyal is on a week-long visit to the US for various programmes including the India-US Strategic Partnership Forum conference and Indo-Pacific Economic Framework (IPEF) ministerial meeting.

“India has the advantage of demographic dividend. Our youth, the aspirational people we have in India is the biggest opportunity and each one of them is connected to the world with access to the Internet,” minister Goyal told the business community.

“As we embark on our journey towards making India a developed nation, it is an important time for us to reflect on where we see India in the next 25 years. The next 25 years of Amrit Kaal, as PM Modi articulated, will define India’s growth story.”

The minister urged the community to gift Made in India products, to gift handlooms, handicrafts, khadi made by the artisans of India.

In his address, minister Goyal also said India as an economy in 2047 can be seen as a powerhouse driving global growth.

Accessing the impact of the foundational changes and the structural transformation that has happened in the last few years, preparing India to rapidly grow. CII estimates India in 2047 to be a 35-45 trillion economy, taking us into the league of developed nations, a prosperous country, a country that cares for every single citizen of the country,” Goyal said.

“We’re proud to be the mother of all democracies. We’re proud to have a vibrant judiciary and rule of law, robust media, transparent government systems.”

Quoting industry body Confederation of Indian Industry’s estimates, he said India in 2047 will be a USD 35-45 trillion economy, taking the country into the league of developed nations.

“I can see an economy which at least on a business and social case, a 30 trillion USD economy, possibly as, CII estimated recently. Working on the foundation that has been prepared over the last few years,” he said.