Union Minister Piyush Goyal has made a big claim about India’s economy. He has said that India wants to capture the global market in all sectors. India will very soon become a 30 trillion dollar economy ($30 trillion economy). At present, India’s economy is close to 3 trillion dollars. The Minister of Textiles, Commerce and Industry said that the domestic textile industry has great potential to generate employment in the coming years.
The Center is actively working with various countries to finalize the Free Trade Agreement. With this, India’s textile sector will get zero-duty entry in the global market.
Plan to capture the world market
Addressing an event in Coimbatore, Piyush Goyal said that the Center is promoting cotton and man-made textile sector. This is being done so that the textile sector can get a larger share of the world market, which will increase investment as well as employment opportunities. He said that we want to be a global industry in all sectors. We want to capture the world market.
Negotiations on free trade agreement are on
Goyal said that the Center is actively working with various countries to finalize the Free Trade Agreement under the leadership of Prime Minister Narendra Modi. Today, India is getting global respect due to the good relations of the PM with the world leaders.
Inaugurating SIMA Texfair 2022 in Coimbatore, Goyal said Tamil Nadu will become the world’s largest manufacturing center for textiles, pumps, wet grinders and essential components. This will boost the economic development of the country.
Economy to become 30 trillion
Piyush Goyal explained about the various policy initiatives taken by the government. It also highlighted the hard work put in by the industry to achieve exports of US$ 440 billion. He said that very soon the country will reach 30 trillion economy from 3 trillion economy.
The government is aggressively working on all issues including tariff barriers, taxation and global competition. He invited all the young and women entrepreneurs to come forward to invest and contribute to the development of the nation.