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Stimulation for Indian Industries
12 Industrial Parks, 5-6 textile parks, urging private sector participation along with cooperation on FTA, Mr. Piyush Goyal is resolved to step up economy.
At a conference of Confederation of Indian Industry, Commerce and Industry Minister, Mr. Piyush Goyal declared a strapping plan to bolster Indian industries.
Mr. Goyal vociferously called for private sector participation and also went to the extent of asking the industry leaders to aid the government to cork any challenges related to policy or compliance which is hampering their ease of doing business.
The Commerce and Industry Minister offered to lessen compliance burdens as well as decriminalize business-facing laws.
Goyal mentioned that the government is undertaking every possible initiative to protect businesses for sub-standard goods operating at crazy prices.
He emphasized that Directorate General of Trade Remedies is protecting Indian industry from surge, import or dumping of goods at irrational prices.
He emphasized that Directorate General of Trade Remedies have always protected Indian industry from surge, import or dumping of goods at irrational prices.
On a very serious note, Mr. Goyal asked the industries to cooperate on Free Trade Agreement (FTA) issue. Goyal sounded quite sad that Indian industries have not been too friendly on FTA stating that the Indian business houses do not want any goods from foreign countries in their segment and want to operate on zero duty concession. He said tax resistance from businesses could have been a roadblock for FTAs.
Vikshit Bharat is a vision document which lays down detailed action plan to make India an entirely developed nation by 2047.
The vision document heightens Indian to the rank of the world’s third-largest economy within the next five years, contingent upon the NDA assuming power yet again.
Noteworthy factors: - It aims to turn India to a USD 30-trillion developed economy in about double decades. - Centre will provide INR 75,000 crore interest free loan. - Indian and Africa’s increasing prominence on the global stage. - Affluence as well as polarization marking the evolving the world - Alarming climate crisis - Transformation of geopolitical landscape - ‘Phygital Future’ will be revamping the physical world completely - Encourage global competition for shared resources like ocean, space and data.