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Shri Piyush Goyal Calls for Out-of-the-Box Reform Ideas from Industry

Union Minister of Commerce and Industry Shri Piyush Goyal addressed the ASSOCHAM India Business Reform Summit 2026 in New Delhi today and 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.

The Minister said the present global situation and geopolitical uncertainties should be viewed as an opportunity for India to strengthen business processes, undertake faster reforms, build greater resilience and strengthen supply chains. He said 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.

Speaking on the evolving global situation and the West Asia crisis, Shri Goyal said businesses should remain alert to both opportunities and risks without panicking. He said India had successfully overcome unpredictable challenges such as COVID-19 and emphasised the need for smarter and more efficient business practices, including reducing waste, improving productivity and adopting energy efficiency measures.

He said lessons learnt during the COVID period had demonstrated the effectiveness of digital engagement and remote working models. Referring to the rapid growth of Global Capability Centres (GCCs) in India, Shri Goyal said around 1,800 GCCs are operating in the country and generating nearly 2 million direct jobs and around 10 million indirect jobs. He said international companies increasingly recognised India as a trusted partner with youthful and talented manpower capable of supporting global operations.

The Minister expressed confidence in India’s services sector and said emerging technologies such as Artificial Intelligence and cyber security would create new opportunities.

Shri Goyal emphasised that India should look at emerging technologies, business reforms and global developments as opportunities. He said the government is 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. He said investments in data centres would create demand across sectors such as real estate, hospitality, logistics, transport, healthcare, education and manufacturing, thereby generating a virtuous cycle of economic growth.

Shri Goyal urged industry to adopt greater efficiency and reduce waste by learning from global best practices, including Japanese manufacturing systems. He 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.

Shri 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. Referring to the 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.

Shri Goyal said the government would continue to act as an enabler and referred to the Bhavya initiative and stakeholder consultations regarding the location of 100 new industrial parks. He informed that 20 parks are already at various stages of development. Referring to suggestions received during discussions with industry representatives, he said the government is examining the possibility of establishing a single body at industrial parks to function as a one-stop shop for all central and state approvals.

The Minister urged greater engagement from the private sector in improving government systems and noted that the national single-window system launched post-COVID had not received adequate participation and feedback from industry. He called upon businesses to work with the government in identifying specific pain points and improving ease of doing business through collaborative efforts.

The Minister said India should 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. He said Indian products should reach global shelves as finished products rather than merely as raw materials.

The Minister also highlighted 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 said India is now targeting exports worth USD 1 trillion and urged exporters to proactively leverage upcoming FTAs by exploring new markets, conducting sampling and trial orders and increasing global engagement even before the agreements formally come into effect.

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.

Shri Goyal informed that the Ministry, which has 482 offices across 216 cities under 46 organisations, is working towards consolidating operations into single-point contact centres in state capitals and major cities. He said 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.

Calling for a culture focused on quality, productivity, localisation and innovation, Shri Goyal suggested that industry and government jointly develop scorecards to track progress in areas such as indigenisation, import substitution, exports, energy efficiency and innovation.

The Minister urged all stakeholders to work together towards making the Amrit Kaal journey towards Viksit Bharat more outcome-oriented, efficient and collaborative.