Minister of Commerce and Industry invites global investors to invest in India

Minister of Commerce and Industry Piyush Goyal has invited global investors to invest in India, taking advantage of the huge domestic market, and a conducive business environment in the country. In his keynote address on Wednesday evening at a conference, he said the country offers fair value for their investments. Mr Goyal said India is being seen as a trusted partner in the global value chains.

The Minister said, Indian economy is coming out of the COVID-19 setback, and several datasets indicate that the country is returning back to business. He said, the GST collections in October were 10 per cent more than the corresponding period of last year and Indian exports were also up by 5 per cent in September.

After a small dip in October, the exports in the first week of November have also shown 22 per cent growth. He said the imports are also picking up, showing that economic activity is normalizing. The Minister said the railway freight in the last two months has been 15 per cent more than the corresponding period of the last year. The recent results of the Indian companies for the last quarter also show that things are returning back to normalcy.

Mr Goyal emphasised on 4 Cs-courage, confidence, competence, and compassion. He said India is set to become a five trillion-dollar economy by 2025, and set the bar to 10 trillion dollars in the next 7 to 8 years.

On the issue of the Atma Nirbhar Bharat campaign, he said this is meant to not only make India self-reliant but also engage with the world from a position of strength.