Piyush Goyal Urges Industry to Drive Viksit Bharat Vision at Investor Summit

At the 21st Annual Global Investor Conference 2025, Union Minister of Commerce and Industry Shri Piyush Goyal called upon global investors and Indian industry leaders to seize the historic opportunity of India’s economic rise and contribute to the nation’s journey towards Viksit Bharat @ 2047. Addressing the gathering, Shri Goyal emphasized India’s resilience, recalling how the country had turned crises such as the 1991 reforms, the 2008 global financial meltdown, and the COVID-19 pandemic into opportunities for renewal and growth.

A Resilient and Growing Economy

The Minister underscored India’s robust economic performance, highlighting:

• 7.8% GDP growth in the first quarter of FY 2025—the fastest quarterly growth in five years.

• A 17.5-year high in Manufacturing PMI, signalling robust industrial activity.

• Private capital expenditure up by 66% and foreign direct investment up by 14%, reflecting investor confidence.

• A surge in domestic participation, with millions of new demat accounts being opened monthly.

• Stable inflation at 1.5%, the lowest in decades, alongside strong domestic capital inflows.

He noted that India’s banking sector is performing at its strongest level in many years, giving depositors and borrowers confidence and stability. He also pointed to the recent upgrade of India’s sovereign credit rating from BBB- to BBB with a stable outlook, backed by resilient growth and external stability.

Infrastructure as a Force Multiplier

Shri Goyal highlighted infrastructure as a key driver of economic expansion, generating jobs, boosting consumption, and enabling seamless connectivity. He invited investors to participate in India’s infrastructure push across highways, railways, energy, ports, and digital networks, which he described as the foundation for long-term competitiveness.

Trade Agreements and Global Engagement

On trade, Shri Goyal recounted India’s successful conclusion of Free Trade Agreements (FTAs) with Mauritius, UAE, and Australia. He noted that discussions are progressing with the European Free Trade Association (EFTA), European Union, and United Kingdom, while talks with the United States are on track for a bilateral trade agreement by November 2025.

He stressed that Aatmanirbhar Bharat does not mean closing doors but building resilient, diversified supply chains to prevent overdependence on any single geography. He cited key sectors—semiconductors, drones, CRGO steel—as examples of where domestic capacity building is taking place alongside global collaboration.

Policy Reforms and Ease of Doing Business

The Minister reiterated the government’s focus on ease of doing business and ease of living, through deregulation, simplification of policies, decriminalization of laws, and greater use of technology. He invited industry leaders to suggest reforms that would avoid duplication, improve efficiency, and strengthen ethical business practices.

He also revealed that GST 2.0 reforms—expected to be discussed in upcoming GST Council meetings—will simplify compliance, spur demand, and boost consumer sentiment. These reforms will add to the government’s earlier steps, including reduction in corporate and personal tax rates and the RBI’s recent cuts in policy rates and CRR.

Sustainability and Quality Manufacturing

Calling for sustainable growth, Shri Goyal urged industries to embrace renewable energy and energy efficiency. He cited successful examples like the UJALA LED bulb scheme and the adoption of 5-star appliances, which reduced energy costs and benefited the environment. He invoked the Prime Minister’s mantra of “Zero Defect, Zero Effect”, emphasizing manufacturing excellence without harming the environment.

Vision for Viksit Bharat 2047

Looking ahead, Shri Goyal said India is not aiming for incremental changes but “quantum leaps” that will transform the nation into a developed economy by 2047. He underlined that the journey requires collective responsibility from both government and industry, with bold dreams and decisive action.

“We are not here for incremental change; we are here for quantum leaps. Let us dream big, aspire big, and achieve big. This is the India of my dreams, the India of 140 crore Indians, a nation that matters in the world and shows light to the rest of the world,” he concluded.