Indian Economy News

Union Minister Mr. Piyush Goyal asked the businesses to adopt a sustainable and green approach in business practices

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Mr. Piyush Goyal asked businesses to adopt a sustainable and green approach to business practices. He was addressing the Inception Meeting of Business 20 (B20) in Gandhinagar, which is the official G20 dialogue forum with the global business community.

He paid his tributes to Netaji Subhash Chandra Bose and said that he was one of the leading lights of our freedom struggle. The Minister said that Netaji envisioned a nation where every single citizen of the nation had a share in its prosperity. He also applauded Prime Minister Mr. Narendra Modi’s vision of ‘Vasudhaiva Kutumbakam,’ and said that through the theme of G20 in India- ‘one earth one family one future’ - we wished to inspire the world to care for each other, to have a greater degree of dialogue and greater concern for the planet and the future of our children.

The Minister also highlighted about India’s stand for sustainable development and mentioned that it was one of the top five countries in the world in terms of adopting and implementing environmental goals. He added that India has already exceeded its goal for 2030 of having about 40% share of renewable energy in its installed capacity in 2021.

Mr. Piyush Goyal said that the Digital India Mission will place India among the top five or six technologically advanced nations in the world. India hopes to power the world economy through collaborations and cooperation amidst competition. He urged both Indian and foreign companies to serve the world using India as the base. India offers the rule of law, inspiring and decisive leadership, transparent government policies, no opaque models, and no hidden subsidies, he said. He expressed hope that by August, India would have a robust framework for B20, and it would succeed in taking a message of togetherness and oneness.

India has assumed the Presidency of the Group of 20 (G20) and B20 Engagement Group. G20 is a premier forum for international economic cooperation. B20 leads the process of galvanizing global business leaders for their views on issues of global economic and trade governance. B20 will operate through seven Task Forces and two Action Councils entrusted to develop consensus-based policy recommendations for the G20.

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