India beckons global investors as hub of innovation start-ups |
Talking about a paradigm shift in the mindset of people in India, Minister of Commerce and Industry Piyush Goyal on Wednesday said that the start-up culture in the country has really gained pace, giving impetus to the spirit of innovation and entrepreneurship. Now, the people of India are aspiring to become job-creators rather than job-seekers. Goyal was speaking at the Conference “India: Drivers of Change` to attract global investors in the country. Piyush Goyal invited global investors to invest in India, taking advantage of the huge domestic market, and conducive business environment in the country. In his keynote address at the conference, he also said that the country offers fair value for their investments, and sees them as trusted partners in the global value chains. Indian economy is coming out of the COVID setback, and several datasets indicate that the country is coming back to business, even better than before the pre- Covid era. The country`s GST collections in October were 10 percent more than the corresponding period of last year, and Indian exports went up by 5 percent in September 2020. After a small dip in October, the exports in the first week of November again show 22 percent growth. The imports are also picking up, showing that economic activity is normalizing. The Minister said the railway freight in the last two months has been 15 percent higher than the corresponding period of the last year. The recent results of the Indian companies for the last quarter also show that they are returning back to normalcy. Piyush Goyal also emphasized on 4 Cs -courage, confidence, competence, and compassion.
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