The recent inaugural edition of Business Standard’s annual summit, Business Manthan, saw Union Minister Piyush Goyal dismissing concerns around protectionism, asserting that India’s trade policy is calibrated and aligned with the country’s development journey. Goyal’s stance on India’s tariff strategy resonated with Finance Minister Niramala Sitharaman’s views expressed earlier at the summit. The event, graced by distinguished personalities from various sectors, advocated for an internationalised economy for a developed India by 2047.
The summit highlighted the importance of trade engagement and the growth of manufacturing for India to achieve its development goals. Discussions ranged from cooperative federalism and fiscal contestations to challenges posed by climate change. Visionaries shared insights on the future, predicting a shift towards cleaner cars and increased focus on green technologies like electric vehicles and biogas.
Entrepreneurs and corporate leaders underlined the transformative role of startups and reiterated the need for a long-term vision in business ventures. The luxury industry and the potential for India to emerge as a key player were also discussed, with an optimistic outlook on the country’s economic growth trajectory.
Overall, the summit provided a comprehensive platform for dialogue and collaboration on shaping India’s trade policies and economic landscape towards a prosperous future.
