Piyush Goyal announces 12 new industrial parks and Mega Textile Parks in India
NEW DELHI : The Indian government is setting up 12 new industrial parks across the country and has plans for 5-6 mega textile parks, according to Minister of Commerce and Industry Shri Piyush Goyal. He encouraged the private sector to take advantage of these initiatives.
Speaking at a conference organized by the Confederation of Indian Industry (CII), Goyal asked industry leaders to help identify policies and compliance issues faced by businesses. He offered to reduce compliance burdens and decriminalize business-facing laws.
Highlighting the government’s achievements over the past decade, Goyal noted that the GDP has doubled, Foreign Exchange Reserves have more than doubled, and the current account deficit has significantly decreased. He emphasized that these changes reflect the positive impact of good governance.
Goyal also mentioned that countries around the world are eager to establish Free Trade Agreements (FTAs) with India. He projected that by 2047, India will become a USD 35 trillion economy, driven by its young and aspirational population.
The Minister outlined the government’s focus on principles such as minimum government – maximum governance, skill development, speed and scalability, transparency, and digitization. He stressed the importance of monitoring and prioritizing issues to ensure timely and cost-effective project execution.
Addressing the gathering, Shri Jayant Chaudhary, Minister of State for Skill Development and Entrepreneurship and Minister of State for Education, highlighted the forward-looking nature of the Union Budget. He emphasized the need to build an ecosystem that makes skills aspirational for the youth and fosters innovation. Chaudhary noted that while transitioning to a knowledge economy may take time, India is progressing with key drivers in place.
The Government is going to work towards these aspects. South Korea took 15 years to transition towards a knowledge economy. Given India’s legacy system and pace of change, our country could take a little longer. There is a lot to do on India’s knowledge index; however, we are progressing with key drivers,” he added