COVID-19 has given India huge opportunity to prepare for next 25 years, say Piyush Goyal

Union Minister of Commerce and Industry Piyush Goyal said India's economy is fully back on track with the indicators showing great results and added that Covid has given a huge opportunity to prepare for the next 25 years.

He said exports are at an all-time high with almost USD 235 billion already achieved in just 7 months.

Goods and Services Tax (GST) collections were touching Rs 1.3 lakh crore and PMI for Services was at a decade high, he said, according to a release by the Ministry of Commerce & Industry.

"Lockdown gave us the time to ramp up the capabilities and capacities to tackle the pandemic like no other country. From Personal protective equipment (PPE) kits to Vaccines, we have found solutions relevant to India," the minister said.

Regarding Atma Nirbhar Bharat, Goyal said that the mission is about engagement with the world from a position of strength.

"It's not about closing all imports. It's a holistic programme targeting the benefits for 1.3 billion people. It will create capacities for the future," he said.

"India believes in Multilateral free and fair trade. We believe in strengthening the capacities and quality of Indian products. PLIs have been introduced in 13 sectors. Imports happen wherever some domestic capacity is not there. But we are working towards making India Atma Nirbhar and upscaling capacities in India," Goyal said.

The Union Minister said that the world now sees India as an emerging superpower and recognizes it as a trusted business partner.

"We are going through engagement with the world through Free trade agreements (FTAs), balanced and fair equitable agreements. Huge opportunities are emerging for India in the fields that would create employment opportunities along with growth," he added.

( With inputs from ANI )

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