19 November, 2024; Mumbai witnessed a significant moment in India’s economic dialogue as Union Minister Piyush Goyal addressed the 27th CITIC CLSA India Forum. During his speech, Goyal underscored the importance of not just focusing on India’s sheer economic size but also on improving the quality of life for its citizens and creating a robust environment for investments.
Highlighting India’s aspiration to achieve sustainable and inclusive growth, Goyal stated, “It’s not only a question of numbers. Since we have a large population, being the third largest is not enough. Our focus is on higher per capita incomes, better quality of life, attracting more investments through ease of doing business, and reduction of compliance burden.”
The minister stressed the government’s commitment to reformative measures aimed at fostering a business-friendly ecosystem. Efforts are underway to simplify regulations, eliminate outdated laws, and reduce compliance burdens that deter entrepreneurs. He emphasized the importance of removing punitive laws that stifle businesses over minor offences, a move that aligns with the broader agenda of encouraging investments and nurturing innovation.
India’s strides in ease of doing business have been significant over the past few years, reflecting in improved rankings and increased global investor confidence. Goyal’s remarks highlighted the government’s long-term vision of creating a more equitable society by promoting higher per capita incomes and a better quality of life, essential for sustaining India’s economic momentum.
The forum, attended by global investors, policymakers, and business leaders, served as a platform for discussing India’s growth trajectory. Goyal’s speech reaffirmed the country’s resolve to not only consolidate its position as one of the world’s largest economies but also to ensure holistic development that benefits all sections of society.
The event concluded with a robust exchange of ideas, showcasing India’s preparedness to capitalize on its potential and emerge as a global economic powerhouse driven by innovation, inclusivity, and strategic reforms.
