Government Looking To Capitalise On Demographic Dividend: Piyush Goyal

Union Minister for Commerce and Industry, Piyush Goyal urged industry members to invest in India while speaking of India's 'limitless possibilities and countless opportunities for domestic and international investors' which has been made possible by the collective efforts of industry and the Government. He was addressing the inaugural Session of 'Indian Merchant's Chamber (IMC) India Calling Conference-Unleashing Opportunities - Why Invest in India virtually from New Delhi today.

Speaking about the Government's efforts, the Union Minister said, "Government is working to capitalise on demographic dividend to have investment driven export led growth with greater engagement with the rest of the world in years to come. Reduction in Corporate Tax rates, improving Ease of Doing Business, FDI Policy reforms, Reduction in Compliance Burden, PM Gati Shakti, Make in India, are some of the initiatives the Centre has taken to encourage investments.

He said, "Today, India is an island of stability amid ongoing global disturbances. Solid structural reforms, macro-economic stability, predictable policy & business friendly reforms make India world's most open, investment friendly economy". In this context he also said, "Innovation has been one of the key themes of our Government, be it governance, welfare delivery, or entrepreneurship, we are constantly trying to reform and innovate".

Goyal stated that India's overall exports are at an all time high at near 675 billion US dollars with a record GST collection of Rs 1.68 lakh crore in last April and Manufacturing PMI at 54.7 and Services PMI at 57.9. All of these are reflective of Indian economy's revival, he added. "A closer look at the export trends indicates that the country in gradually moving towards becoming a high-class, high-technology manufacturing economy". He further said that this also reflects the huge potential that investors have when they come to India.

Noting that a few days ago, India had hit a century of unicorns, the Minister congratulated all the startup entrepreneurs of India for this unique feat.