India is a trusted partner of the world, says Piyush Goyal.Emphasis on stable economic conditions

The Minister will travel to San Francisco and Los Angeles for six days starting September 5 to attend the India-US Strategic Partnership Forum meeting and the Indo-Pacific Economic Framework (IPEF) Ministerial Meeting.

Speaking at a luncheon with the Institute of Chartered Accountants of India (ICAI), which has launched six new chapters in Arizona, Austin, Los Angeles, Michigan, North Carolina and Ohio, he said: India, the island of stability it offers, has held up strong in the midst of global turmoil, with economic growth continuing to be among the highest of any large country, and inflation rates falling to the rest of the world. In particular, it is relatively lower than in developed countries. “

While the world is still recovering from the COVID-19 pandemic, India has emerged as a stable economy. As India undergoes a revolutionary economic reform, Goyal urges a chartered accountant to return to his home country to present a huge investment opportunity and become an ambassador for Brand India.

“There has been a small bump in the last few months. Inflation is rising around the world post-COVID, coupled with the conflict in Ukraine and Russia. compared with India in the range of , said the federal minister.

He also urged CA to become an ambassador for ‘Brand India’. “Please spread the message of One District One Products,” he said, adding, “I would like to appeal to everyone to choose ‘Made in India’ products for gifts.” .

She added: India — Seeking bilateral agreements to increase trade with India and increase investment in India. ”

Inflation in India is around 6-7%. The Consumer Price Index (CPI) is up about 6.7% in the last account. This is down from ten years ago. Since 2014, India has focused on inflation and the Reserve Bank of India (RBI) and the central government have entered into a formal agreement obliging the RBI to keep inflation as the main focus of its activities. Since 2014, India’s inflation rate has averaged around 4.5%, probably the lowest since independence.

Goyal also said India’s growth rate suggests the country could become a $30 trillion economy within 30 years.

“There is renewed enthusiasm to expand the frontier of economic activity. India’s growth rates suggest it is on track to become a $30 trillion economy within 30 years.” he said.

India has become the world’s most attractive investment destination, he added, adding: “World leaders and developed countries are stepping up their engagement with India in search of bilateral agreements to increase trade with India. I am trying to do so,” he said.

He highlighted India’s economic changes and discussed India’s economic reforms such as the implementation of the GST. Moreover, there is a renewed enthusiasm for expanding the frontiers of economic activity.

“You know the revolutionary economic reforms that happened in India namely the Goods and Services Tax (GST) and the Bankruptcy and Bankruptcy Code (IBC). Efforts to decriminalize the law and make it easier to do business. Low corporate tax on new businesses entering India Elimination of Dividend Distribution Tax which has been a deterrent to international investment in India which is offset by Double Taxation Avoidance (DTA) No,” said Goyal.

He also emphasized the importance of a single-window system, launched in September 2021, as a one-stop digital platform that allows investors to apply for various pre-operational approvals required to start a business in the country. emphasized.

“The single window in which we have sought to create all this underscores the very new ambition in India to expand the frontiers of business economic activity. If we take the 8% growth rate and extrapolate the current US$3.3 trillion economy, we can see what the Confederation of Indian Industries (CII) has probably predicted in a very conservative way at US$30 trillion. It will be between $35 trillion and $45 trillion by 2047,” Goyal said.

Goyal visited San Francisco’s iconic Gadar Memorial. “Today, I stand at the Gadar Memorial to express my deepest gratitude to our ancestors who sacrificed ‘everything’ for their beloved country. I swear to be Jai Hind!” Goyal tweeted. The Guadal Memorial in San Francisco is home to the Hindustan Gadar Party. The Hindustan Gadar Party is made up of freedom fighters who left India to emigrate to North America and congregated here to plan a rebellion against British India in the early 20th century.

Earlier, in San Francisco, Goyal laid a wreath to the founding father, Mahatma Gandhi.

“The difference between what we do and what we can do is enough to solve most of the world’s problems. I am proud of India’s efforts and ability to serve the world,” Goyal tweeted.

Paying tribute to the 8-foot-tall sculpture donated to the city of San Francisco by the Gandhi Memorial International Foundation, the UN minister said, “There is no better way to begin this visit than to pay tribute to Mahatma Gandhi.” said.

(with input from ANI)

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