Indian Economy News

Mr. Piyush Goyal emphasised India’s 10x+ growth potential in the next 25 years

Union Minister for Commerce & Industry, Textiles, Consumer Affairs, Food & Public Distribution, Mr. Piyush Goyal was invited to attend the business meeting organised by the Federation of Enterprises in Belgium (FEB) during his two-day trip to Brussels to attend the first Ministerial meeting of the India-European Union Trade and Technology Council (TTC). More than 28 business delegates from the Belgium side as well as six representatives from the Indian business delegation were present at the meeting.

In his keynote address, Mr. Piyush Goyal emphasised India's 10x+ growth potential in the next 25 years, which would strengthen its position as the fastest-growing large economy, focus on the 4Ts of trade, technology, tourism, and talent, and its ambitious mission for sustainability and renewable energy, which is evidenced by its performance of achieving Paris targets in 2021 itself.

Following this, there were roundtable discussions with testimony from Belgium businesses working in India, testimony from Indian and foreign businesses operating in Belgium, and remarks from the business organisations in the meeting. Tariffs and levies, IPR protection, investments, the need for regulations in the waste management sector, decreasing regulatory compliances, zero-carbon technologies, and green financing, offshore wind systems, etc. were some of the topics covered at the roundtable.

According to Mr. Piyush Goyal's response to the round table discussion, while addressing global challenges like climate difficulties, there must be a level playing field for both the developed and rising nations. While India is dedicated to achieving its goals of net zero emissions, there should be a significant contribution from everyone involved, and all nations must uphold their responsibilities under the Paris Agreement. He also expressed optimism that the India-EU Trade and Technology Council (TTC) framework could become a useful forum for addressing these issues.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.