New Delhi, May 19: Union Commerce and Industry Minister Piyush Goyal emphasized the need for deeper partnerships between the government and industries to enhance India’s competitive capacity. This collaboration is crucial for achieving the goal of a developed India by 2047 and promoting ease of doing business.
Speaking at the Assocham India Business Reform Summit 2026, Goyal noted that the current global landscape and geopolitical uncertainties present an opportunity for India to strengthen its business processes, implement rapid reforms, develop greater resilience, and fortify supply chains.
He stated, “India and Prime Minister Narendra Modi have never let any crisis go to waste, and I am confident that the country will transform current global risks into opportunities for growth and reform.”
Addressing changes in the global situation and the crisis in West Asia, Goyal advised businesses to remain vigilant to both opportunities and risks without panic.
He remarked, “India has successfully faced unexpected challenges like COVID-19.”
Goyal stressed the need for more efficient and effective business processes, including reducing waste, increasing productivity, and adopting energy efficiency measures.
He added, “The experiences gained during the COVID period have demonstrated the effectiveness of digital engagement and the work-from-home model.”
Highlighting the rapid growth of Global Capability Centers (GCCs) in India, Goyal mentioned that approximately 1,800 GCCs are operational in the country, creating around 2 million direct jobs and nearly 10 million indirect jobs.
He noted, “International companies are increasingly recognizing India as a reliable partner, equipped with young and talented human resources capable of collaborating in global operations.”
The minister expressed confidence in India’s service sector, stating that emerging technologies like AI and cybersecurity will create new opportunities.
Goyal emphasized, “India should view emerging technologies, business reforms, and global development as opportunities.”
He explained that the government is creating a conducive environment for investment in data centers and cloud services through reliable global partnerships, affordable data availability, the expansion of renewable energy, and robust electrical infrastructure.
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