The government is planning to set up 12 new industrial parks across the country and is preparing to launch 5-6 mega textile parks, according to Minister of Commerce and Industry Piyush Goyal. Speaking on Tuesday, Goyal encouraged the private sector to seize these opportunities.

At a conference organized by the Confederation of Indian Industry (CII), Goyal urged industry leaders to assist the government in identifying policies and compliance challenges faced by businesses. He pledged to reduce compliance burdens and decriminalize business-related laws.

Highlighting the government’s achievements over the past decade, Goyal noted significant transformations in the Indian economy. "The GDP has doubled, foreign exchange reserves have more than doubled, and the current account deficit has significantly reduced, showcasing the impact of effective governance," he said.

The minister also mentioned that several countries are interested in forming Free Trade Agreements (FTAs) with India and enhancing bilateral relations.

Goyal projected that by 2047, India will become a USD 35 trillion economy, driven by its young, ambitious population. He emphasized that the government’s efforts are guided by principles such as minimal government intervention, maximum governance, skill development, speed and scalability, transparency, and digitization.

He further stated, "The government focuses on monitoring, prioritizing issues, and ensuring the timely execution of projects within budget. We are an outcome-oriented nation, prepared to face future challenges."

Jayant Chaudhary, Minister of State (Independent Charge) for Skill Development and Entrepreneurship and Minister of State for Education, also addressed the gathering. He praised the Union Budget as forward-looking, highlighting its emphasis on entrepreneurship, youth, education, and skills development. Chaudhary stressed the importance of building an ecosystem that makes skills aspirational for the youth.

Chaudhary added that fostering a vibrant middle class and valuing innovation are crucial for social progress. He remarked, "While South Korea transitioned to a knowledge economy in 15 years, India, given its legacy systems and pace of change, might take longer. There is much to improve on India's knowledge index, but we are advancing with key drivers."

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