New Delhi: Union Commerce Minister Piyush Goyal today hailed India’s transformation into a self-reliant and globally trusted economy, crediting a series of bold policy reforms, Free Trade Agreements (FTAs), and initiatives to ease doing business. Speaking at a major economic forum, Goyal emphasized how these measures have positioned India as a powerhouse in the global market.
Over the past decade, India has climbed significantly in the World Bank’s Ease of Doing Business rankings, shedding bureaucratic red tape and streamlining regulations. ‘From complex licensing to single-window clearances, we’ve made it simpler for entrepreneurs to thrive,’ Goyal stated. This shift has attracted massive foreign direct investment, with inflows surging to record levels in recent years.
Key to this success are the strategic FTAs inked with countries like the UAE, Australia, and ongoing negotiations with the UK and EU. These pacts have opened new export avenues, boosting sectors from textiles to technology. Goyal highlighted how reduced tariffs and enhanced market access have made Indian goods competitive worldwide.
Policy reforms such as Production Linked Incentive (PLI) schemes have supercharged manufacturing, drawing giants like Apple and Tesla to set up shop in India. ‘Atmanirbhar Bharat is not just a slogan; it’s a reality fostering innovation and job creation,’ he asserted.
Looking ahead, Goyal outlined ambitious plans for further liberalization, digital infrastructure upgrades, and sustainable growth. India’s GDP trajectory, resilient amid global headwinds, underscores its emergence as a reliable partner for international trade. As investors flock to this vibrant economy, the message is clear: India is open for business like never before.