With the announcement that the India-United Kingdom Free Trade Agreement (FTA) will be implemented from July 15, India’s economic engagement with the globe is about to receive a huge boost, according to Union Commerce and Industry Minister Piyush Goyal. Many Indian companies are looking forward to the new possibilities that will arise as a result of the historic trade treaty, which is anticipated to enhance bilateral commerce, boost exports, and more.
During a news conference, the minister reviewed the 12-year rule of the Narendra Modi government and stated that India has gone from being a country with unrealised potential to a strong and independent economic force on the international stage.
According to Goyal, India persisted in its growth trajectory and turned crises into economic opportunities through bold leadership and policy reforms, even though the country faced big global difficulties like the COVID-19 epidemic and the Russia-Ukraine conflict.
The minister emphasised that during Prime Minister Narendra Modi’s tenure, India had inked nine landmark Free Trade Agreements (FTAs). New possibilities have arisen for exporters, entrepreneurs, farmers, fisherman, and women-led businesses in India as a result of these agreements, which have opened up trade with 38 industrialised nations.
Goyal stated that the imminent execution of the India-UK FTA will enhance trade ties between the two countries and is anticipated to produce favourable economic results shortly. Greater international cooperation and investment are being paved the way for by recent bilateral conversations between India and other large economies, he added.
The minister remarked that 33 nations have bestowed their highest civilian accolades on Prime Minister Narendra Modi, a testament to India’s rising international prominence and the increasing diplomatic might of the country.
Domestically, Goyal emphasised the government’s commitment to inclusive development and the open and transparent use of digital technology to deliver welfare services. Several of his signature programs, he said, have greatly increased people’s access to social security across the nation.
Over 32% of the 55 million Jan Dhan accounts are held by females, as reported by the government. Additionally, over 60 crore Ayushman Bharat health cards have been distributed to guarantee cheap healthcare access, and the government has maintained its provision of free food grains to over 81 crore people.
In addition, he boasted that the PM Awas Yojana had built over four crore dwellings and that the PM Suraksha Bima Yojana had reached over 58 crore people. Furthermore, the Swachh Bharat Mission has constructed over 12 crore toilets, which has improved sanitation and public health, and the Ujjwala plan has helped approximately 11 crore households.
The government’s attempts to reintegrate youngsters from areas formerly impacted by the Maoists into the national mainstream through development-oriented programs were also highlighted by the minister, as were enhancements to internal security.
Goyal concluded his remarks by saying that the government will continue to make policy decisions aimed at economic growth, social welfare, and global competitiveness driven by the collective goal of 140 crore Indians to build a Viksit Bharat by 2047.
Image: DD News
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