Govt Focused on Ease of Doing Business: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal, addressing the 21st Annual Global Investor Conference 2025, highlighted India's strong economic performance and the nation's vision for Viksit Bharat 2047. He said India has a track record of turning crises-such as 1991, 2008, and the pandemic-into opportunities, and is once again poised for transformation.

Goyal underlined India's Q1 FY25 GDP growth of 7.8%-the fastest in five years-alongside a 66% rise in private capex, 14% growth in FDI inflows, and a surge in new demat accounts. Strong macro fundamentals, record banking sector performance, and an upgraded sovereign rating (BBB- to BBB, stable outlook) reflect growing confidence in India's economy, he added.

Calling infrastructure a "force multiplier" and urging greater investment in Make in India, the Minister also pointed to ongoing FTA negotiations with the EU, UK, and USA, expressing hope of finalising a US trade deal by November.

He reiterated the government's commitment to ease of doing business by deregulating, simplifying policies, reducing procedures, and decriminalising laws. Upcoming GST 2.0 reforms, he said, will simplify compliance, spur demand, and boost sentiment.

On sustainability, Goyal urged industry to embrace energy efficiency and quality manufacturing under the "Zero Defect, Zero Effect" principle. He stressed that Aatmanirbhar Bharat aims at building resilient supply chains, not isolation from global trade.

"We are not here for incremental change, but for quantum leaps. This is the India of my dreams, the India of 140 crore Indians," he concluded.