Digital Mission will help achieve inclusive economic growth smartly, says Goyal
Businesses that came to India have always succeeded because of the country’s competitiveness, Commerce and Industry Minister Piyush Goyal has told the Inception Meeting of Business 20 (B20), the official G20 dialogue forum with the global business community, in Gandhinagar on 23 Jan 2023.
Without naming the companies, he cited an example of a British manufacturing company which has increased its market size to 110 countries from its operations in India, a huge growth compared to having served a few markets when it was manufacturing in the UK.
He also cited an example of a tech-giant which is scaling manufacturing in India up to 25% from the current 5-7%.
India offered the rule of law, inspiring and decisive leadership, transparent Government policies, no opaque models and no hidden subsidies, he said.
Pointing out that India had grown almost 12 times in the last three decades despite of several black swan events, the Minister said that transformational steps had been taken by the Government to take inclusive growth to every section of society without discrimination and to the remotest corners of the nation.
“The Digital India Mission had ensured that the levels of connectivity we have in telecom today and what is being planned over the next 2 years would catapult us to amongst the top 5 or 6 countries in terms of technology,” he said. “It will help us achieve inclusive economic growth smartly.”
Goyal has also told businesses to adopt a sustainable and green approach in business practices.
He asked them to use “the forum of B20 along with G20 to look at how we can collectively work towards a sustainable and equitable future agenda.” India assumed the Presidency of the G20 from 1 December 2022.
G20 is a premier forum for international economic cooperation. Established in 2010, B20 is among the most prominent Engagement Group in G20, with companies and business organizations as participants.
B20 leads the process of galvanizing global business leaders for their views on issues of global economic and trade governance and speaks in a single voice for the entire G20 business community.
B20 will operate through 7 Task Forces and 2 Action Councils entrusted to develop consensus-based policy recommendations to the G20.
B20 discussed broad areas of climate action, innovation, digital global cooperation, resilient global value chains, fostering financial inclusion, empowering societies etc.
The B20 Inception Meeting culminated on 24 January 2023.
More than 200 overseas delegates including CEOs and business executives, from G20 member countries and invitee countries apart from more than 400 delegate from within the country took part in the B20 India Inception Meeting. fiinews.com
