: GoI working with States to improve Ease of Doing Business: Piyush Goyal #FinanceIndia #StockMarketNEWS GoI working with States to improve Ease of Doing Business: Piyush Goyal New Delhi, Sep 11 (KNN)

@StockMarketNEWS Sun 13 Sep, 2020

Posted in: #FinanceIndia #StockMarketNEWS

GoI working with States to improve Ease of Doing Business: Piyush Goyal #FinanceIndia #StockMarketNEWS
GoI working with States to improve Ease of Doing Business: Piyush Goyal New Delhi, Sep 11 (KNN) Union Minister of Commerce and Industry, Piyush Goyal has said that the government is working with states & local bodies to deregulate and make it easier to start a business.

Addressing the students of Indian Institute of Foreign Trade through virtual interaction on Thursday, Goyal said, Indias own ease of doing business ranking has improved significantly in the five years.

Talking about India’s mammoth potential, Goyal said that the real unique selling point of India should be around High Quality, Good Service and Good Pricing.

“India should get recognised the world over for its quality & competitiveness. Quality will have to be integral for the planning of our future. We believe in Transparent pricing, Transparent trade, Free Market, No price controls and No hidden subsidies”, he added.

Explaining the concept of AatmaNirbharBharat, the Minster said that it is not about closing Indias doors to international trade & engagement.

“In fact, it is about opening it wider looking for greater engagement in global trade. Now India has to engage with global economies from a position of strength with highly cost-competitive products of high quality”, he said

On India being a huge and much-sought after market, the Minister said, “Its a market that businesses around the world want to engage with. The businesses will not only get a large Indian market but can also leverage this market to get economies of scale. Trading relations between the two countries rest on the pedestal of high reciprocity & equilibrium. More & more countries are moving towards balanced trade. India also will have to engage with other countries to expand our trading relationships but on the strength of our own competitiveness. ”

Goyal also said that if other countries want access to the market of 130 crore Indians then they will have to give us equal access to their market. India is not going to be a patient receiver of unfair trade practices.

Stating that India had not been a gainer from the past FTA’s, the Minister said that historical wrong will have to be corrected by our generation. Lauding the strong and decisive leadership of the Prime Minister Narendra Modi, Goyal said that RCEP deal was not signed as it was not properly addressing India’s concern. He said that India, Japan and Australia, all three true democracies, trusted partners and believers in rule-based trading, have recently agreed to have a supply chain initiative.

Quoting His Holiness Dalai Lama who said, "Open your arms to change but dont let go of your values", he said that this is the spirit in which India wishes to engage with the rest of the world.