Union Commerce and Industry Minister Piyush Goyal called for deeper collaboration between industry and government to advance ease of doing business, enhance India's competitiveness and accelerate the country's journey towards Viksit Bharat 2047. Speaking at the ASSOCHAM India Business Reform Summit 2026 in New Delhi, Goyal emphasized that the present global situation and geopolitical uncertainties should be viewed as opportunities for India to strengthen business processes, undertake faster reforms, build greater resilience and strengthen supply chains. According to reports from Mint, the Minister called businesses to stay alert to emerging opportunities and risks arising from the evolving global macroeconomic scenario and the West Asia crisis, while emphasizing that India should use these global uncertainties to push reforms, strengthen supply chains and expand exports. He expressed confidence that India and Prime Minister Shri Narendra Modi have never allowed a crisis to go to waste and expressed confidence that the country would convert current global risks into opportunities for growth and reform.
Goyal informed that around one thousand eight hundred Global Capability Centres (GCCs) are operating in the country, generating nearly two million direct jobs and around ten million indirect jobs. As reported by Mint, he said that multinational companies increasingly view India as a trusted partner because of its young and skilled talent pool that's capable of supporting global operations. The Minister highlighted that businesses must look at emerging technologies and global developments as opportunities, with the government creating an enabling ecosystem for investments in data centres and cloud services through trusted global partnerships, low-cost data availability, renewable energy expansion and robust power infrastructure. He informed that cloud services provided from India or Indian data centres to the rest of the world have been granted 100 per cent tax-free status till 2047, with investments in data centres creating demand across sectors such as real estate, hospitality, logistics, transport, healthcare, education and manufacturing. According to Mint, Goyal also expressed confidence in India's services sector and said emerging areas such as artificial intelligence, cybersecurity and data centres would create significant opportunities for growth.
Goyal highlighted that India is engaging with the world from a position of strength and noted that the country is a competitive manufacturer of goods and provider of services. According to Mint, referring to various Free Trade Agreements (FTAs) covering 38 countries, he said these agreements open doors for greater engagement and stressed that Indian businesses must leverage them for attracting investments and increasing exports rather than allowing imports alone to rise. The Minister noted that despite global challenges such as tariffs, the Ukraine conflict and the West Asia crisis, India's exports had reached an all-time high of USD 863 billion last year, with growth recorded in both merchandise and services exports. He urged India to focus on increasing exports of more value-added products, including automobiles, auto components, electronics, consumer goods and agro-based value-added products, so that farmers and fishermen benefit from better prices and improved value realization. As per Mint, Goyal also said India is targeting exports worth $1 trillion and urged exporters to prepare in advance for upcoming FTAs by exploring new markets, conducting trial orders, and deepening global engagement even before the agreements formally take effect.
The Minister announced that the government is looking at the possibility of establishing a single authority at industrial parks to serve as a one-stop shop for all central and state approvals. According to Mint, he added that consultations are underway regarding the development of 100 new industrial parks, 20 of which are already in various stages of implementation. The Minister reiterated that the Government works in an integrated manner rather than in silos and invited industry to provide out-of-the-box suggestions to the government. He said the Commerce Ministry itself is undertaking internal reforms to improve efficiency and transparency, including consolidating operations of its 482 offices across 216 cities into integrated single-point contact centres in major cities and state capitals. This would enable businesses to access services related to organisations such as DGFT, Coffee Board, Spices Board, GeM and other bodies through integrated and digitally connected systems. He urged all stakeholders to work together towards making the Amrit Kaal journey towards Viksit Bharat more outcome-oriented, efficient and collaborative, calling for a culture focused on quality, productivity, localisation and innovation.
Goyal emphasized the importance of tourism and domestic consumption in strengthening the economy and urged citizens to promote Indian destinations. Referring to India's energy efficiency initiatives, he recalled the success of the Ujala LED bulb programme, which significantly reduced energy consumption and led to savings estimated at around one lakh crore rupees annually. He urged industry to adopt greater efficiency and reduce waste by learning from global best practices, including Japanese manufacturing systems. The Minister noted that lessons learnt during the COVID period had demonstrated the effectiveness of digital engagement and remote working models, emphasizing that India should look at emerging technologies, business reforms and global developments as opportunities for growth and reform. According to Mint, he also called for a culture focused on quality, productivity, localisation and innovation, and suggested that industry and government jointly develop scorecards to monitor progress in areas such as indigenisation, import substitution, exports and energy efficiency.
