Union Minister for Commerce and Industry, Shri Piyush Goyal, inaugurated the ‘Bharat Calling Conference 2025’ organized by the IMC Chamber of Commerce and Industry in Mumbai. As the keynote speaker, he addressed the theme ‘Path to Viksit Bharat 2047: Pioneering Prosperity for All’, emphasizing India’s transformation into a global economic powerhouse and highlighting key enablers for long-term growth.
India’s Economic Transformation and Global Investment Potential
Shri Goyal emphasized that India stands at the forefront of global economic growth, with a robust economy, a dynamic consumer market, and business-friendly policies. With 1.4 billion aspirational citizens, India is poised to attract significant global investments across diverse sectors. He underscored the role of strategic government initiatives, including Make in India, Digital India, Startup India, Swachh Bharat, and Atmanirbhar Bharat, in reshaping the nation’s economic mindset and preparing India for global leadership.
“We are collectively committed to bringing about a prosperous and developed India,” Goyal stated, outlining five key enablers for achieving Viksit Bharat@2047:
- Quality Management and Handholding of Small Businesses
- Sustainability
- Inclusive Growth
- Skill Development
- Competitiveness and Efficiency
Quality Revolution: The Need for Higher Standards
Shri Goyal emphasized that quality has been a historical challenge in India, and now is the time to adopt modern quality standards and good manufacturing practices. He revealed that over 700 quality control orders have been implemented, urging business chambers like IMC to advocate for quality control.
He also called for larger corporations to mentor and support small businesses in upgrading manufacturing practices and ensuring product quality, which will strengthen India’s global trade competitiveness.
Sustainability and Inclusive Growth as Core Business Strategies
Highlighting sustainability, Goyal noted that Indian traditions have long emphasized environmental consciousness. However, in today’s context, sustainability must become a business priority alongside energy efficiency and responsible production.
He stressed the importance of inclusive growth, stating that infrastructure development, ease of living initiatives, and CSR programs should focus on bridging socio-economic gaps. He urged businesses to actively contribute to inclusive development by aligning their CSR efforts with national priorities.
Skill Development: Strengthening India’s Workforce
As India’s economy grows, skill-building is critical to creating jobs and enhancing workforce capabilities. Shri Goyal announced the launch of two additional skill development centers in North Mumbai, following the success of the first state-of-the-art skill center in Kandivali.
These centers will equip India’s youth with industry-relevant skills, aligning workforce training with global business requirements.
Competitiveness and Efficiency: A Shift from Protectionism to Global Engagement
Shri Goyal called on businesses to move beyond subsidies and government support and instead focus on innovation, competitiveness, and efficiency. He emphasized that industries must upgrade manufacturing practices, adopt new skill sets, and enhance operational efficiency to thrive in the global economy.
“Businesses should engage with the world with confidence and thrive on their competitive strength rather than depend on government incentives,” he stated.
Also read: Piyush Goyal: Industry Should Focus on Competitiveness
Global Collaboration and Investment
The conference also saw participation from international dignitaries, including Ms. Rosslyn Bates, Minister for Finance, Trade, Employment, and Training, Queensland, Australia, and Shri Sanjaya Mariwala, President of IMC Chamber of Commerce and Industry.
As India prepares for Viksit Bharat 2047, initiatives like Bharat Calling Conference 2025 aim to drive investment, innovation, and economic reforms, ensuring sustainable and inclusive growth for the next two decades.
