Indian economy fully back on track: Commerce and Industry Minister
The Minister attributed this huge bounce back to an extraordinary leadership at the top
Minister for Commerce and Industry Piysh Goyal has said that India's economy is fully back on track with the indicators showing great results.
“Covid19 has given India a huge opportunity to prepare for the next 25 years," said Piyush Goyal, the Minister of Commerce and Industry while speaking at a media conclave in New Delhi on Thursday.
He said that exports are at an all-time high with almost Rs 235 Billion dollar already achieved in just 7 months. GST collections were touching Rs 1.3 lacs cr and PMI for Services was at a decadal high. Valuations in industry are great.
He said that lockdown gave us the time to ramp up the capabilities and capacities to tackle the pandemic like no other country. He said that from PPE kits to Vaccines we have found solutions relevant to India. World is looking towards India.
Goyal said that this huge bounce back has been due to an extraordinary leadership at the top.
Regarding Atma Nirbhar Bharat, Goyal said that the mission is about engagement with the world from a position of strength.
“It's not about closing all imports. It's a holistic programme targeting the benefits for 1.3 Billion people. It will create capacities for the future,” he said.
The Union Minister said India believes in multilateral free and fair trade. “We believe in strengthening the capacities and quality of Indian products. PLIs have been introduced in 13 sectors. Imports happen wherever some domestic capacity is not there. But we are working towards making India Atma Nirbhar and upscaling capacities in India,” he said.
Goyal added that the world now sees India as an emerging super power and recognizes it as a trusted business partner.
He said that we are going through engagement with the world through FTAs, balanced and fair equitable agreements. “Huge opportunities are emerging for India in the fields that would create employment opportunities along with growth,” he said.