Union government working to revise trade frameworks to boost exports: Piyush Goyal

COIMBATORE: Union Minister for Commerce and Industry Piyush Goyal on Friday said the central government is working to revise trade frameworks to enhance export opportunities for MSME’s.

Speaking at an interactive session with industry bodies, entrepreneurs and representatives from start-ups, Goyal credited MSME’s as the backbone of the nation’s economy, contributing significantly through innovation and investment.

“Over the past three and a half years, India has concluded nine duty-free trade agreements, which are expected to boost industrial growth in Coimbatore and Tirupur, particularly in the textile and automobile sectors,” he said.

Highlighting improvements made in infrastructure, Goyal said power shortages that existed before 2014 have largely been eliminated with round-the-clock electricity made available across the country.

“Tamil Nadu’s renewable energy generation, particularly wind and solar, has set benchmarks by supplying power to other states through the national grid, benefiting industrial investors,” he said.

Pointing to the transformative impact of digitisation, the Union Minister said India ranks second globally in the usage of ChatGPT, reflecting the country’s growing digital adoption.

Calling for greater synergy between policy and grassroots implementation, Goyal said the nation's growth would accelerate further with strong democratic institutions, decisive leadership and the talent of youth. He also urged voters to support a development-oriented government in the upcoming elections and emphasised the importance of leveraging central schemes at the grassroots level to achieve the goal of Vision India-2047.