Minister Piyush Goyal Announces 12 New Industrial Parks and Mega Textile Parks in India
New Delhi, July 31: The Indian government is setting up 12 new industrial parks across the country and has plans for 5-6 mega textile parks, according to Minister of Commerce and Industry Piyush Goyal. He encouraged the private sector to take advantage of these initiatives.
Speaking at a conference organized by the Confederation of Indian Industry (CII), Goyal asked industry leaders to help identify policies and compliance issues faced by businesses. He offered to reduce compliance burdens and decriminalize business-facing laws.
Highlighting the government’s achievements over the past decade, Goyal noted that the GDP has doubled, Foreign Exchange Reserves have more than doubled, and the current account deficit has significantly decreased. He emphasized that these changes reflect the positive impact of good governance.
Goyal also mentioned that countries around the world are eager to establish Free Trade Agreements (FTAs) with India. He projected that by 2047, India will become a USD 35 trillion economy, driven by its young and aspirational population.
The Minister outlined the government’s focus on principles such as minimum government – maximum governance, skill development, speed and scalability, transparency, and digitization. He stressed the importance of monitoring and prioritizing issues to ensure timely and cost-effective project execution.
Addressing the gathering, Jayant Chaudhary, Minister of State for Skill Development and Entrepreneurship and Minister of State for Education, highlighted the forward-looking nature of the Union Budget. He emphasized the need to build an ecosystem that makes skills aspirational for the youth and fosters innovation. Chaudhary noted that while transitioning to a knowledge economy may take time, India is progressing with key drivers in place.
Doubts Revealed
Piyush Goyal -: Piyush Goyal is an important person in the Indian government. He helps make decisions about business and trade in India.
Industrial Parks -: Industrial parks are special areas where many factories and businesses are built together. They help create jobs and make things more efficiently.
Mega Textile Parks -: Mega textile parks are large areas where many companies make clothes and fabrics. This helps the clothing industry grow and provides jobs.
CII -: CII stands for Confederation of Indian Industry. It is a group that helps businesses in India grow and succeed.
Private Sector -: The private sector includes all the businesses and companies that are not run by the government. They play a big role in the economy.
Economic Growth -: Economic growth means the country is making more money and people are getting richer. It is good for everyone because it creates more jobs and opportunities.
Jayant Chaudhary -: Jayant Chaudhary is another important person in the Indian government. He focuses on helping people learn new skills and making sure the country’s budget helps everyone.
Skill Development -: Skill development means teaching people new abilities and knowledge so they can get better jobs and help the country grow.
Union Budget -: The Union Budget is a plan made by the government about how to spend the country’s money. It helps decide what projects and services will get funding.
Innovation -: Innovation means creating new ideas, products, or ways of doing things. It helps make life better and can lead to new jobs and industries.
Middle Class -: The middle class includes people who are not very rich but also not poor. They usually have stable jobs and can afford a comfortable life.
