Indian Economy News

Union Minister of Commerce & Industry Mr. Piyush Goyal underlines the Government's commitment to improving the ease of doing business in India

Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Mr. Piyush Goyal, emphasised the Government's commitment to enhancing the ease of doing business in India and making it simpler to establish and manage firms.

He highlighted the success of the Startup India initiative while speaking at the Bada Business's "Entrepreneurs Launchpad" event held in New Delhi, as the country has seen remarkable growth from 450 startups in 2016 to over 1 lakh today, making India the third-largest startup ecosystem in the world.

The Minister urged all the stakeholders to have high goals, be strong, and contribute to advancing India. Mr. Goyal emphasised the global recognition earned during India's G20 presidency, emphasising how it provided an opportunity to demonstrate the development accomplished in the country under the visionary leadership of Prime Minister Mr. Narendra Modi to the world.

The Minister highlighted the aspirational nature of India's youth, who are keen for quick progress. He emphasised the importance of the country's youth as the foundation for India's development in the "Amrit Kaal". With India's average age of less than 30 years and the demographic dividend continuing for the next three decades, he expressed optimism that India's economy would experience exponential development by 2047.

According to Mr. Piyush Goyal, India's prospects, diversity, and economic progress are drawing more and more attention from around the world. He emphasised that Indian STEM graduates are an international attraction.

He noted several initiatives, including Bharat Mandapam, Yashobhoomi, Kartavya Path, and Pradhanmantri Sangrahalaya, as evidence of India's transformation away from a colonial attitude. He underscored the Prime Minister's commitment to enhance the lives of all 140 crore Indians through welfare measures such as power connection, digital connectivity, cooking gas access, piped water delivery, and advancements in health and education.

Mr. Goyal exhorted all residents to contribute to the nation's growth with a sense of duty and dedication. He praised the Entrepreneurship Launchpad for energising and instilling knowledge in participants, hence boosting entrepreneurship growth.

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