India moving rapidly on path of recovery: Union Minister Piyush Goyal

NEW DELHI: India is moving "very rapidly" on the path of recovery and with the dawn of the new year, the industry and entrepreneurs will lead the country out of the pandemic gloom into a golden era of economic growth and prosperity, Union Minister Piyush Goyal said on Wednesday.

Addressing a webinar titled 'Udyog Manthan', the commerce and industry minister said we must take forward our journey to build 'Brand India' and make production and services efficient and effective in delivery.

He added that through this, we can serve the world on the strength of our quality and value of our products. Quoting Prime Minister Narendra Modi, Goyal said, "India does not want to merely fill global markets with its products. We want Indian products to win the hearts of people around the world."

He added that this is possible by adopting the high-quality and improving productivity in a big way. He said it is time that India, which aspires to be an integral part of the resilient global supply chain and aspires to serve markets around the world, also looks at improving the quality standards.

Goyal said that a liberalised FDI framework has been provided for promoting investments in various sectors, including single-brand retail, coal, mining and manufacturing. "We are opening up rapidly in a number of sectors and encouraging investment into India," the minister added.

Talking about the governance transformation, the minister said good, quick and transparent governance are all hallmarks of a good government. "In the past few years, the world has seen governance transformation in India into one in which global recognition and trust has been achieved," he added.

"We are rapidly on the path of recovery. Things are falling back into place and with the dawn of the new year, I believe our industry and entrepreneurs through their conviction will lead us out of the COVID-19 pandemic gloom into a golden era of economic growth and prosperity for 1.3 billion people in India," said the minister.

Goyal said quality and productivity are going to be two important legs on which the future of the Indian industry stands. "We have focused on ease of doing business. We are working actively towards single window for clearances," said the minister.

Goyal said Udyog Manthan will be a harbinger of change in the way we work, in our mindset. "It will truly be remembered for the base it will set for India to engage as a global player with high productivity and high quality," he added.