Not just decade, it is India's century, Piyush Goyal tells Stanford students
Sep 07, 2022
Union Minister for Commerce and Industry Piyush Goyal, while interacting with the faculty and students of the Stanford Graduate School of Business in San Francisco, said that India meant "opportunities" and it is not just this decade but the entire 21st century belongs to India.
Goyal invited the students of Stanford to engage with India and work with a billion-plus people with great aspirations.
Minister Goyal is on a six-day visit to the US for various programmes including the India-US Strategic Partnership Forum conference and Indo-Pacific Economic Framework (IPEF) ministerial meeting.
During the interaction at the Stanford Graduate School of Business, Goyal observed that the last few years have been well spent by India in creating the foundation in which the country can rapidly transform, grow its economy, improve its systems, engage with technology and learn from the best in the world.
The Minister also stressed that India has been striving to ensure that every citizen of the country and every child born in the nation has a right to a good quality of life and a bright future.
Further, referring to India's exports which have already crossed USD 675 billion in the last fiscal, he said that the nation was now aspiring to take international trade to USD 2 trillion by 2030 and added that by the time India would celebrate the 100th anniversary of its Independence it would be a USD 30 trillion economies.
"That is the kind of opportunity that India presents to the world. This is not just India's decade, it is India's century", he added.
Further in his address in reference to the youth of India who are rapidly turning into entrepreneurs and startup champions, Goyal said that India's new education policy is giving a fillip to liberal education and looking at deeper collaborations with the best schools in the world.
He added that India had successfully used several management principles such as root cause analysis, innovative financing models, and economies of scale among others to ensure the success of the LED lighting program. It may be noted that India has been able to save around 80 million tonnes of CO2 emissions because of that program.
Goyal added that India, which was once a net importer of LED lamps, now has several manufacturers of high-quality LED lamps exported worldwide.
Later, speaking of India's success in fintech services, the minister said that nearly 40 per cent of all digital transactions were happening out of India today, with even small vendors accepting digital payments.
