ECONOMY

Davos WEF 2022 | Time For India To Focus On Value-Added Exports, Says Piyush Goyal

India’s service sector can boost country’s overall exports, Union Minister Piyush Goyal said, calling for the government and businesses to support each other.

Addressing a breakfast session organised by the Confederation of Indian Industry and Deloitte on the sidelines of World Economic Forum Annual Meeting 2022, Goyal also said the presence of India has been very, very noticeable this time in Davos, Switzerland.

Referring to the challenges posed by the pandemic, the minister said that despite supply chains strained amid global challenges, we have done exceedingly well in terms of exports and other parameters.

According to Goyal, India has clocked a record $250 billion in exports amid the pandemic. An extra focus on services can help improve export growth.

“India now needs to look at value-added exports. It is important to bring jobs to the country,” he said. “Logistics is one cost where the government is very seriously looking at, and if there are any other concerns that the industry may have, we are open to look at each of those.”

“We are willing to dedicate senior government officials to oversee large projects. In the larger scheme of things, we all need to support each other to bring scale to the country,” Goyal said.

“India has got not only the demographic dividend, a young population, but also a huge talent pool,” he said, urging foreign companies to invest in India. “Come to India and grow with India because India is the future.”



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