Summary:

Mr. Piyush Goyal, Minister of Commerce and Industry, has announced that the government will develop 12 new industrial parks and 5-6 mega textile parks. He encouraged the business sector to capitalize on these opportunities and assist in resolving policy and compliance challenges. Goyal emphasized India's economic achievements, including tripling GDP and foreign exchange reserves, reducing the current account deficit, and increasing interest from nations in free trade agreements with India.

By 2047, India aims to be a $35 trillion economy, driven by its young and ambitious population. The government prioritizes minimal interference and maximum governance, focusing on skill development, speed, transparency, and digitization. Mr. Jayant Chaudhary, Minister of State for Skill Development, highlighted the Union Budget's forward-thinking strategy, emphasizing entrepreneurship, youth, education, and skill development. He noted that creating a thriving middle class and an innovative economy will drive social transformation. Although the transition to a knowledge economy will take time, substantial progress is being made through key initiatives.

Source: IBEF 

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