Piyush Goyal, Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, said that the upcoming G20 Summit holds significant importance for global trade, for attracting investments to India and for enhancing India’s role in multilateral organizations.
Goyal said this while addressing the Northern Regional Export Excellence Award function of the Federation of Indian Export Organisation (FIEO) in New Delhi. He further stated that India’s presidency will be recognized and remembered for many years as an action-oriented Summit where significant deliverables were offered to the world.
Goyal noted that the recent G20 Trade Ministers’ meet in Jaipur gave a Call of Action through which the Indian MSME sector will get significant access to information, which will help them become globally successful exporters.
“We are looking at mapping global value chains so that Indian traders can play a greater role in global value chains and we also focussed on digitisation of trade documentation,” he added. He noted that India will have almost 90% of the global GDP being represented in New Delhi at the G20 Summit in a few days.
Goyal said that after a long period of stagnation in exports, India broke the ceiling and crossed US$ 450 billion of merchandise exports in 2022-23. Admitting that the current year does show some challenges with the geopolitical situation and the impact of that which we are seeing in certain sectors like petroleum, gems and textiles, he expressed confidence that our exporters have the ability and agility to overcome adverse situations.
He said that we are living in a nation full of pride, a nation full of talent, a nation that is being recognized across the world as the future engine of world economic growth. India has celebrated three major achievements in recent days – Chandrayan mission, in sports in the form of wins in javelin and chess and the successful engagements in Ministerial Meetings in G20, he said.
