Indian economy poised to take off, says Commerce Minister Piyush Goyal at Davos
Team Udayavani, Jan 23, 2020, 5:24 PM IST
New Delhi: Asserting that the Indian economy is well-poised to take off, Union minister Piyush Goyal on Thursday said there is a lot of enthusiasm for making investments in the country.
Speaking at a session at the World Economic Forum (WEF) annual summit here, the Commerce and Industry Minister also said the government will hold discussions with Britain and European Union on free trade agreements.
“… things have once again started showing an uptrend… economy is well poised to take off from here,” Goyal said.
According to him, the enthusiasm to make investments in India is infectious.
At least four or five companies have said that more than 50 per cent of their total workforce would operate out of India in the coming years. Some of them are big names, he noted.
On RCEP, Goyal said it was an “unbalanced trade agreement, which was really not fulfilling the guiding principles on which RCEP started about eight years ago, therefore India chose not to participate in it”.
Out of the RCEP countries India already has bilateral trade agreements with ASEAN 10 with Japan and Korea, we are close to concluding negotiations with Australia which we have restarted now and in the next 6 to 8 months we are can close a bilateral trade partnership with Australia, he said.
“RCEP was effectively becoming a free trade agreement between China and India. I don’t think India is ready to engage unless we see open government, better transparency, regulatory practices being followed, and a greater market access for Indian goods and services on a reciprocal basis,” he said
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Cache of arms including foreign-made revolvers seized by CBI in Sandeshkhali raids
24 Indian Fishermen Released from Sri Lankan Detention, Repatriated to India
SC verdict on EVM tight slap to Congress-led opposition: PM Modi in Bihar rallies
Board exams twice a year from 2025: MoE asks CBSE to work out logistics, no plan for semesters
Akhilesh Yadav accuses BJP of job losses and employment failure
MUST WATCH
Latest Additions
Elections held in 14 LS segments in Karnataka, voter turnout nearly 64 per cent till 5 pm
‘PM is scared, may even shed tears on stage’: Rahul Gandhi’s fresh salvo at Modi
Cache of arms including foreign-made revolvers seized by CBI in Sandeshkhali raids
24 Indian Fishermen Released from Sri Lankan Detention, Repatriated to India
Deep-tech drives growing patenting patterns in India; highest filings in Tamil Nadu: Study