Piyush Goyal Calls for Stronger Industry-Govt Collaboration to Boost Reforms And Exports

New Delhi, May 19 (KNN) Union Commerce and Industry Minister Piyush Goyal on Tuesday called for stronger collaboration between industry and government to improve ease of doing business, strengthen supply chains and accelerate India’s progress towards the Viksit Bharat 2047 vision.

Addressing the ASSOCHAM India Business Reform Summit 2026 in New Delhi, the Minister said India should convert global uncertainties and geopolitical challenges into opportunities for faster reforms, resilient supply chains and higher exports.

Goyal said India’s exports reached an all-time high of USD 863 billion last year despite global disruptions, with growth recorded in both merchandise and services exports. He added that India is targeting exports worth USD 1 trillion in the near term.

Highlighting the growth of Global Capability Centres (GCCs), the Minister said around 1,800 GCCs are currently operating in India, generating nearly 2 million direct jobs and around 10 million indirect jobs. 

He said global companies are increasingly expanding operations in India due to confidence in Indian talent and capabilities.

The Minister also highlighted opportunities in emerging sectors such as Artificial Intelligence, cyber security and cloud services. 

He said the government is promoting investments in data centres through trusted global partnerships, renewable energy expansion and improved power infrastructure.

He informed that cloud services provided from India or Indian data centres to the global market have been granted 100 per cent tax-free status till 2047. 

According to Goyal, investments in data centres are expected to create economic activity across sectors including real estate, logistics, hospitality, healthcare, education and manufacturing.

Referring to India’s Free Trade Agreements (FTAs), Goyal said agreements covering 38 countries would provide greater market access and investment opportunities for Indian businesses. 

He urged exporters to proactively explore new markets and increase engagement ahead of the agreements becoming operational.

The Minister also said the government is examining the possibility of creating a single approval mechanism at industrial parks to function as a one-stop system for central and state clearances. He added that around 20 industrial parks are currently under development under the Bhavya initiative.

Goyal urged businesses to focus on quality, productivity, localisation, innovation and value-added exports in sectors such as automobiles, electronics, consumer goods and agro-based products. He also called on industry to provide reform suggestions and work closely with the government to improve business processes and operational efficiency.

(KNN Bureau)