Synopsis
Piyush Goyal highlighted India's potential as a leading global investment destination during the Bharat Calling Conference 2025. The minister emphasized the importance of quality, sustainability, and inclusive growth while encouraging businesses to embrace international trade and innovation to realize India's ambitions by 2047.Key Takeaways
- India is on track to become a leading investment hub.
- Strong focus on quality management and innovation.
- Emphasis on sustainability and inclusive growth.
- Government initiatives support economic resilience.
- Skill development is crucial for job creation.
Mumbai, Feb 27 (NationPress) With a strong and resilient economy, a vast and vibrant consumer market, and a government dedicated to creating business-friendly policies, India is on track to become one of the world's foremost investment destinations, stated Commerce and Industry Minister Piyush Goyal on Thursday.
During the inauguration of the ‘Bharat Calling Conference 2025’ organized by the IMC Chamber of Commerce and Industry, the minister emphasized that India is at the leading edge of global economic expansion, presenting unmatched prospects for investment across various sectors.
Focusing on the theme 'Path to Viksit Bharat 2047: Pioneering Prosperity for All', he pointed out that vast opportunities are emerging in a nation of 1.4 billion people, many of whom are ambitious and youthful. There is a strong commitment to manufacturing, skill development, and innovation, as championed by Prime Minister Narendra Modi, which positions India as the world's rising investment hotspot.
Goyal underscored that various strategic initiatives by the government, such as Make in India, Digital India, Startup India, Swacch Bharat, and Atmanirbhar Bharat, have collectively shaped the nation’s mindset to be resilient, self-reliant, and a more prominent player in global trade, particularly as the country’s economy is transformed during the Amrit Kaal leading up to 2047.
"We are united in our goal to cultivate a prosperous and developed India," he remarked.
Goyal further noted that India cannot achieve developed nation status without embracing international trade. To this end, he identified five essential enablers for realizing Viksit Bharat@2047: quality management and support for small businesses, sustainability, inclusive growth, skill development, and competitiveness and efficiency.
He stated that India is on the brink of a quality revolution. Regrettably, quality has often been compromised in the past, and he urged businesses to adopt modern quality standards to ensure that the country’s ecosystem is oriented towards high quality and adheres to good manufacturing practices. He mentioned that there are around 700 quality control orders in the country.
Business chambers like IMC can significantly contribute to the nation by promoting the importance of quality control, he added.
Goyal also emphasized the significance of major corporations mentoring small businesses on quality control and enhancing their manufacturing practices.
Regarding sustainability, he highlighted it as another crucial element in trade and commerce. Indian culture has traditionally reflected a consciousness towards sustainability for many years. It is vital to acknowledge sustainability as a contemporary challenge, which, along with energy efficiency, should be a focal point for businesses.
Additionally, he stated that development cannot proceed without inclusive growth. The government is undertaking targeted interventions, such as ease of living initiatives for various communities and infrastructure development nationwide. The minister urged businesses to also address the agenda of inclusive development through improved CSR initiatives.
Goyal mentioned that skill-building programs will generate more jobs and fortify the economy. He noted the establishment of two more skill development centers in north Mumbai, following the launch of the first modern skill center in Mumbai’s Kandivali area last year.
He also indicated that enhancing efficiency and competitiveness is paramount. Businesses should capitalize on competitive advantages and engage confidently with the global market, rather than relying on government subsidies and incentives, he added.
Dignitaries present included Australia's Queensland state's Finance, Trade, Employment and Training Minister Rosslyn Bates, alongside IMC Chamber of Commerce and Industry President Sanjaya Mariwala, among others.
