Indian Economy News

Government committed to ensuring ease of doing business by deregulating, reducing procedures, simplifying policies, and decriminalising laws: Union Minister of Commerce and Industry Mr. Piyush Goyal

Union Minister of Commerce and Industry Mr. Piyush Goyal, addressing the 21st Annual Global Investor Conference 2025, highlighted India’s ability to convert challenges into opportunities. He cited past crises in 1991, 2008, and the pandemic, emphasising that India is poised to leverage current opportunities to realise the vision of Viksit Bharat 2047. He noted strong macroeconomic fundamentals, including 7.8% GDP growth in Q1 FY26, private capital expenditure up 66%, foreign direct investment rising 14%, and record demat account openings. He pointed to the manufacturing PMI at a 17.5-year high, the lowest consumer price index (CPI) inflation in recent years, and robust banking sector performance, underlining the country’s financial stability and improved sovereign rating from BBB- to BBB with a stable outlook.
He stressed the importance of Make in India, infrastructure development, and resilient supply chains under Aatmanirbhar Bharat. He highlighted ongoing trade engagements with Mauritius, the United Arab Emirates (UAE), Australia, the European Union, the United Kingdom, and the USA, alongside existing free trade agreements. Upcoming GST 2.0 reforms, corporate and personal tax reductions, and RBI policy rate cuts were noted as growth enablers. He called for industry participation in sustainable practices, energy efficiency, and high-quality manufacturing in line with Prime Minister Mr. Narendra Modi’s Zero Defect, Zero Effect vision. He concluded by urging government and industry to aim for transformative, not incremental, growth, reinforcing India’s emergence as a global economic leader.

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