Union Commerce and Industry Minister Piyush Goyal held a lunch meeting with members of the UK India Business Council on Friday. Along with this, he interacted with top representatives of major global organizations.
What is the purpose of discussion?
Union Minister Goyal said that the main objective of the discussion was to open new opportunities. In a post on X, he said, ‘Had an interactive lunch meeting with members of the UK India Business Council, with top representatives from leading global organizations including Tata Consultancy Services, Tata Group, HSBC, Prudential and Baker McKenzie to discuss taking the India-UK development agenda forward. The main focus of the discussion was to deepen cooperation in various sectors to open up new opportunities, accelerate investment and promote shared development as well as to further strengthen India’s global competitiveness.
Advocating transformational growth and urging industry leaders to expand and venture into hitherto unexplored areas, Goyal said the world believes India can and must do it. The Union Minister, who is visiting Britain, participated in the Business Plenary Session, where he interacted with industry leaders and stakeholders to discuss trade, investment and economic growth opportunities.
Who has done injustice to India?
The Union Minister said that global rating agencies like Fitch, Moody’s and S&P have done injustice to India. They have not adequately recognized India’s growth story as well as the country’s strong fundamentals and its potential. He called for increasing exports to Britain. Also said that there is a lot of potential there. India needs to gain larger market share.
The Union Minister on July 15 highlighted the opportunities arising from the upcoming implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA). He stressed on cooperation, coordination and partnership to make rapid progress. The Minister stressed the need to have high development ambitions and work accordingly.
He said, ‘I have full confidence that whatever we will achieve now. He will prove to be very valuable. Often we get lost in our comfortable environment and time flies by. Then we fall into the same stereotypical thinking that we claim success only if there is an increase of 5, 7 or 10%. International trade usually grows at a rate of 4 to 6% or 5%. If our level of ambition as a nation remains the same, it would be a grave betrayal of the trust that the world places in us today.