Union Minister Piyush Goyal participated in the BT India@100 Summit, addressing tariff-trade issues among others. He highlighted India's history of transforming adversities into opportunities. Today, the world looks towards India, keen to collaborate. He pointed out that India contributes 16% to global growth, with a rapidly growing share market, currency, and foreign reserves. Global interest in collaborating with India's 1.4 billion talents is a testament to the country’s promising future.
India: The Fastest Growing Economy Speaking at the BT India@100 Summit, Union Minister Piyush Goyal advocated that this is India's era. Prime Minister Narendra Modi's supportive words resonate as the nation stands firm in all circumstances. Our farmers and entrepreneurs need not worry; India is set to lead the new world order. Goyal reiterated that India stands as the fastest-growing economy, with global recognition of this fact.
Discussing the India-US Trade Deal, Goyal remarked that there is a demand to open our market for their dairy-agri products. However, in our existing trade agreements, we have not conceded, consistently prioritizing our farmers’ interests without compromise.
India’s Transformational Changes Observed
Addressing the upheaval from tariffs, Goyal noted India’s century-spanning history of navigating such changes. Amidst global shifts, India too is charting new trade paths. Highlighting numerous instances where adversity turned into opportunity, he reflected on the 1999 Y2K crisis that impacted the global IT industry.
Goyal shared, 'At the stroke of midnight, December 31, 1999, global systems crashed, causing panic. Under Atal Bihari Vajpayee's governance, India viewed this as an opportunity, minimizing government interference in IT and fostering its growth. Today, India's IT industry is worth $300 billion, providing jobs to millions. We haven’t looked back.'
India's Resilience During COVID-19
Goyal recounted India's impressive resilience during the pandemic, defying grim predictions of severe distress. Stating that the outbreak was met with formidable strength, India not only conducted vaccine research but also manufacturing on a large scale. Piyush Goyal revealed, 'India supplied free vaccines to over 100 countries, including impoverished ones shunned by others.' He stated that during COVID-19, no one in India died of starvation; the government provided doubled rations to 800 million people. As the nation quickly recovered, achieving self-reliance, Goyal praised the role of farmers in this success, converting the crisis to an opportunity, proving India can withstand any ordeal and emerge victorious.
