Piyush Goyal Invites Global Investors To Partner In India’s Growth Story At IMC Bharat Calling
Union Minister of Commerce & Industry, Piyush Goyal, addressed the Inaugural Session of the IMC Bharat Calling Conference, emphasizing India’s commitment to becoming a global investment hub and fostering collaborative economic growth. He highlighted India’s economic resilience, its growing contribution to global trade, and the vast opportunities within the country’s 1.4 billion aspirational young population. Calling upon global investors, he stated, “India is on a transformational journey, and we invite the world to partner with us in this growth story. Our nation contributes 16% of global economic growth, and with the right collaborations, we can unlock even greater potential.”
During his address, Goyal outlined the Indian government’s pro-business initiatives and investment-friendly policies, including corporate tax reductions, increased liquidity for NBFCs and banks, and streamlined FDI policies aimed at accelerating economic activity. He emphasized the success of the Production Linked Incentive (PLI) schemes, which have been implemented across 13 sectors, driving industrial expansion and job creation. He also reiterated the government’s commitment to enhancing the ease of doing business by simplifying regulations, reducing bureaucratic hurdles, and creating a seamless business environment for investors and entrepreneurs.
Goyal spoke about India’s self-sufficiency across multiple industries, emphasizing that the country is largely independent in most areas, except for certain agricultural products like pulses and oilseeds and specific high-tech industrial goods. He highlighted the government’s strong support for manufacturing, innovation, and skill development, crediting flagship initiatives such as Make in India, Digital India, Swachh Bharat, and Startup India for fostering a resilient, self-reliant economy. According to him, these programs have transformed India’s economic landscape, preparing the nation to be a key player in global trade and investment.
The first casualty in a less developed or developing economy is often quality. A lack of resources, limited spending power, and the presence of non-market economists using India’s market for substandard goods to predict pricing have frequently stifled local domestic manufacturing. A case in point is Mumbai, where Ajanta’s story remains a strong example. The brand pleaded for protection when the watch industry was struggling due to an influx of substandard goods flooding the market. Goyal highlighted the importance of safeguarding domestic industries against such challenges, ensuring that Indian manufacturers thrive in a competitive global economy.
Looking ahead, Goyal expressed confidence in India’s growth trajectory, particularly as the country moves into Amrit Kaal, the two decades leading up to 2047 – the 100th year of independence. He reaffirmed India’s vision of becoming a developed and prosperous nation, committed to sustainable infrastructure, green energy, and digital transformation. He urged global investors to be a part of India’s economic transformation, reinforcing the idea of “Growing Together, Changing Together, and Transforming Together.”
The IMC Bharat Calling Conference, organized by the IMC Chamber of Commerce and Industry, served as a premier platform for discussions on India’s investment landscape, economic resilience, and future roadmap. The event showcased India’s remarkable progress and its readiness to embrace global partnerships for long-term economic growth.