India’s efforts in circular economy and renewable energy to spur quality of life of the world: Shri Goyal

Technology, accountability and bold decisions to lead India to become a developed nation by 2047: Shri Goyal

Hope to deliver and roll out 6G before the rest of the world: Shri Goyal

Union Minister of Commerce & Industry, Shri Piyush Goyal during his keynote address at the 13th Society for Human Resource Management (SHRM) India Annual Conference & Expo 2024 in New Delhi said that sustainability is an area where India has chosen to be a part of the solution and now, navigating change faster than before.

Alluding to the theme of the Conference “India Now: Navigating Change”, Shri Goyal said that India’s foray into green hydrogen, green ammonia and greater storage will holistically help in combating climate change and reduce the country’s import bill on crude oil lowering trade deficits and need for forex. Our effort to adopt a circular economy, move towards electric mobility, produce renewable energy and provide energy to the rest of the world will spur quality of life for India and the world.

He added that the Government’s bold and decisive decisions, its efforts to push out technology for the well being of the citizens, and ensuring accountability will help India become a developed nation by 2047.

Shri Goyal said that India’s transformational growth in terms of lowest decadal inflation, rapid increase in forex reserves and rapid economic growth has earned the moniker “Trusted Partner of the World”. Expanding on the advantage India’s demographic dividend has over the world, he said that the Government’s efforts to provide basic needs like infrastructure of roads, power, digital connectivity are increasingly reaching the last man at the bottom of the pyramid preparing a nation of youth to engage with the future. That is the India of today, he said.

Referring to India’s G20 theme of “One World, One Family and One Future”, the Union Minister said that India’s progress from being a fragile five economy to being the fifth largest economy of the world India has become the preferred investment destination. He said that India of today is the foundation of tomorrow’s India. We have built a strong macroeconomic foundation, we have changed the mindset of the nation to think big and we are confident of achieving our dreams going forward if we align ourselves with the vision and mission of Prime Minister Shri Narendra Modi, he said.

Speaking about India’s paradigm shift in providing low cost smartphones, data and managing large quantities of digital transactions better than the rest of the world, Shri Goyal stressed that India is leading the world in 6G. We hope to deliver and roll out 6G before the rest of the world, he said.

Sustainability policy drives green energy, circular economy and tech-led infrastructure to strengthen energy security and growth. India's policy emphasis on sustainability advances green hydrogen, green ammonia, energy storage, renewable energy, electric mobility, and a circular economy to reduce crude oil imports, improve trade balances, and enhance climate resilience. Complementary regulatory priorities focus on infrastructure expansion-roads, power, digital connectivity-for inclusive development and workforce readiness. Technology policy and accountability, including ambitions in next generation telecommunications, are presented as strategic enablers of competitiveness and investment attractiveness.