On Monday, Union Commerce and Industry Minister Piyush Goyal declared that India is paving a new path to economic success with record export numbers and numerous free trade agreements (FTAs).
The minister stated in a post on the social media site X that procedures are being expedited, made faster, and made more transparent with the help of a strong digital ecosystem.
Another noteworthy development has been the creation of cutting-edge, futuristic infrastructure. The main goals are to empower companies and draw in more capital, Goyal said.
The minister claims that boosting “Ease of Doing Business,” lowering the burden of compliance, and strengthening stakeholder discussions have empowered small firms, boosted investor confidence, and created a more competitive trading climate.
Despite the escalating geopolitical tensions and trade war brought on by the increase in US tariffs, India’s overall merchandise and service exports for May of this year are projected to be $71.12 billion, a 2.77 percent increase over the same month last year.
According to data from the Commerce Ministry, India’s top 5 export destinations that had positive growth in May of this year are the US (16.93%), China (25.04%), Australia (35.36%), Russia (48.11%), and Germany (17.05%).
According to the minister, Vanijya Bhawan has been designed as a cutting-edge, effective, integrated, and committed center for India’s rapidly expanding business and industrial environment.
Several significant milestones have been reached and new standards for how India conducts business have been established in the three years since Prime Minister Narendra Modi inaugurated it.
“The dedication of our staff has made this possible. Every employee here, from the top executives to the cleaning crew, contributes to writing the enduring tale of India’s trade and business. I want to express my gratitude to all of the Vanijya Bhawan parivar members,” Goyal stated.
He went on to say that the accomplishments of the previous three years serve as a reminder of the value of preparation, commitment, and execution.
“Let’s reaffirm our commitment to working with our industry and international partners to achieve the objective of Viksit Bharat 2047,” he said.
India’s growing international appeal is demonstrated by the fact that its FDI inflows now come from 112 countries, up from 89 in 2013–14.
India’s FDI success story, in Goyal’s opinion, is not just about striking figures; it also reflects clear policies, visionary reforms, and international confidence in India’s economic future. In the majority of sectors, FDI up to 100% is now permitted via the automatic method.
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