India Can Be Trusted to Deliver High-Quality Output on Time Amid Global Crises: Shri Goyal

Export Promotion Mission Will Help MSMEs Get Proper Certifications Required to Become Part of Global Supply Chains: Shri Goyal

We Are Looking at an Area-Based Approach to Develop Industries Across the Country; We Have Created a Holistic Development Model: Shri Goyal

India Will Continue to Be the World’s Fastest-Growing Economy for at Least the Next 25 Years: Shri Goyal

Union Minister of Commerce and Industry Shri Piyush Goyal today said that India and the United States are working as natural partners and complement each other across sectors including technology innovation, high precision defence, digital data centres, quantum computing and medical devices. Addressing the Annual Leadership Summit of the American Chamber of Commerce in New Delhi, the Minister said the partnership between the two countries is strengthened by mutual trust and shared economic interests.

Shri Goyal said commitments from American industry in the last six months are estimated to be upwards of 60 billion dollars, including major data centre investments by companies such as Amazon and Google. He said India provides a trusted framework for global companies and combines scale, talent and market opportunity in a manner unmatched globally.

The Minister said America is looking for a trusted partner and India has consistently demonstrated respect for intellectual property rights while delivering high-quality output on time. He said India offers a large pool of skilled talent and provides scale to American innovation through demand aggregation from 1.4 billion aspirational Indians, rising incomes and a growing middle class.

Shri Goyal said India and the United States have economies that complement each other with minimal competition, making the partnership stronger. He said when complementarity is combined with mutual trust, it creates an unbeatable combination capable of building trusted and resilient supply chains for the future.

The Minister said the Government is also adopting an area-based approach to industrial development through the Bhavya scheme aimed at creating 100 new industrial parks across the country. He said the model integrates industrial infrastructure with worker housing, recreation and social amenities to create holistic industrial ecosystems.

Shri Goyal said improved infrastructure, lower logistics costs and free trade agreements together are creating a virtuous cycle of investment, manufacturing growth and export competitiveness. He expressed confidence that India will continue to remain the world’s fastest growing economy for at least the next 25 years.

Highlighting the role of MSMEs in strengthening global supply chains, Shri Goyal said the Government has initiated coordinated efforts involving the MSME Ministry and the Department for Promotion of Industry and Internal Trade to support technology upgradation and skill development for MSMEs.

He said the proposed Export Promotion Mission will help MSMEs secure globally recognised certifications necessary to become part of international supply chains. Shri Goyal added that agencies such as the Export Inspection Council, Bureau of Indian Standards and FSSAI are working together to build world-class testing and quality infrastructure across India.

Highlighting India’s resilience amid global uncertainties, Shri Goyal said India’s growth forecast was upgraded from 6.4 per cent to 6.5 per cent despite challenges such as the Ukraine conflict and the West Asia crisis. He said this reflects India’s capability, decisive leadership and growing confidence in engaging with the world as a reliable and favoured investment destination.

The Minister said global leaders increasingly view India with admiration and expectation, and this recognition is motivating Indians to work towards building a stronger nation and a better future for coming generations. He described the India-US partnership as a defining partnership of the 21st century driven by American innovation and investment combined with Indian skill and talent.

Speaking on India’s manufacturing transformation, Shri Goyal said India is rapidly moving away from the earlier model of sourcing globally and assembling products domestically towards becoming a centre for design, innovation and intellectual property creation. He said innovations that may cost billions of dollars in developed countries can be developed in India at one-third or one-fifth of the cost.

The Minister said global companies are increasingly recognising India as a preferred destination for setting up global capability centres rather than relocating talent overseas. He said this shift accelerated after the COVID pandemic demonstrated the effectiveness of remote working and offshoring to trusted partners such as India.

Shri Goyal said India is witnessing a rapidly growing culture of research and development and innovation among the youth. He noted that digital adoption and technology awareness are spreading quickly not only in metropolitan cities but also in tier-two and tier-three cities and eventually villages because of India’s strong digital backbone.

Highlighting the long-term vision behind India’s transformation, Shri Goyal referred to flagship initiatives launched under the leadership of Prime Minister Shri Narendra Modi, including Startup India, Make in India and Digital India. He also referred to initiatives related to financial inclusion, women empowerment and the creation of a unified national electricity grid.

The Minister said India’s renewable energy sector has witnessed unprecedented growth over the last decade. He said solar power capacity has increased from less than two gigawatt to over 150 gigawatt in under twelve years, supported by visionary policy decisions and ambitious targets set by the Government.

Shri Goyal said India today offers high-quality power infrastructure, including 24-hour clean energy at globally competitive rates, making the country an attractive destination for data centres and advanced manufacturing. He added that India offers reliable infrastructure, technological talent, a trusted digital ecosystem and a large domestic market along with tax incentives extending till 2047.

The Minister said these factors are enabling India to build ecosystems that support design, development and manufacturing while generating high-paying jobs for India’s youth. He said India’s ambition is to move beyond the earlier “assemble in India” model and create a prosperous and developed nation by 2047.

Referring to India’s digital infrastructure, Shri Goyal said the country has achieved one of the fastest 5G rollouts across the length and breadth of the country, including remote areas, while also providing among the world’s lowest data costs. He said India is already preparing for the next phase of digital growth and technological advancement.

Shri Goyal said India currently hosts 2,117 global capability centres employing approximately 2.35 million people directly and generating nearly 98 billion dollars in revenue. He said these developments are contributing significantly to India’s sustained economic growth at a time when several countries are struggling with low growth rates.

The Minister said India has achieved significant progress but remains committed to continuous improvement and deeper engagement with the United States across technology, investment, manufacturing and innovation sectors. He expressed confidence that the coming decades will witness even greater economic integration between the two countries.

The Minister said the Government is ready to support industries in establishing modern testing facilities equipped with the best global technologies. He urged industry stakeholders to guide the Government in further expanding India’s testing ecosystem to international standards.

Citing the example of the mega common facility centre at SEEPZ in Mumbai, Shri Goyal said the centre was established through a public-private partnership model and houses world-class facilities for jewellery design, manufacturing, prototyping and testing. He noted that the project, initially planned for 30,000 square feet, was expanded to 100,000 square feet and became surplus-generating within its first year because of strong industry participation.

The Minister said recent budget announcements, Semicon Mission 2 and initiatives aimed at promoting critical mineral processing technologies demonstrate the Government’s commitment to supporting industry and advanced manufacturing. He urged MSMEs and larger companies alike to leverage these opportunities for future growth.

Describing the Government as a listening and adaptive administration, Shri Goyal said there are no silos within the Government and ministries work together as one team. He said the Government remains open to policy changes and newer approaches based on the evolving requirements of businesses and industries.

Shri Goyal also appealed to larger companies to support MSMEs through faster payment cycles. Referring to the existing 45-day payment requirement for MSME suppliers, he suggested that companies could consider clearing payments within seven days after approval of goods to improve MSME cash flow, strengthen supply chains and encourage investment in technology and quality enhancement.

On infrastructure development, Shri Goyal said infrastructure remains central to India’s growth strategy because of its multiplier effect on jobs, incomes, industrial growth and tax revenues. He said sectors ranging from aviation to digital services benefit directly from rapid infrastructure expansion.

The Minister highlighted PM Gati Shakti as a transformative initiative developed by the Commerce and Industry Ministry to create smarter and more efficient infrastructure planning across the country. He said the platform integrates nearly 1,800 layers of geospatial and infrastructure-related data to improve planning and execution.

Shri Goyal said PM Gati Shakti enables better planning of highways, railway lines, ports and logistics infrastructure by identifying the most efficient routes, reducing delays, improving land acquisition and strengthening last-mile connectivity. He noted that the initiative helps reduce infrastructure costs and improve operational efficiency.

Recalling earlier logistical bottlenecks around major ports such as JNPT, Shri Goyal said PM Gati Shakti has fundamentally changed infrastructure planning and implementation in India by enabling coordinated and technology-driven decision-making.

Speaking about the vision for Viksit Bharat 2047, Shri Goyal said the Government is working with clearly defined targets and long-term planning similar to successful businesses. He said India aims to become a developed nation with a projected per capita income of 20,000 dollars and a population of around 1.6 billion by 2047.

The Minister said Government initiatives related to financial inclusion, housing, water access, ease of living and ease of doing business are all being implemented with precision and measurable goals. He added that the Government continuously reviews progress and addresses slippages through corrective planning and policy action.

Shri Goyal urged businesses and investors to look beyond the present and recognise the capability, talent, aspirations and agility of India and its people. He said those who trust India’s growth story will continue to benefit from the country’s long-term economic transformation.