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Government’s policies aimed at ensuring balanced growth: Goyal
Oct-16-2025

Union Minister of Commerce and Industry, Piyush Goyal has said that the Government’s policies are aimed at ensuring balanced growth that benefits all sections of society, strengthens the domestic economy, and positions India prominently on the global stage. He further pointed to the International Monetary Fund’s recent upward revision of India’s growth projection to 6.6 percent for 2025, an increase from its earlier estimate of 6.4 percent, as evidence of the country’s economic resilience and strong fundamentals. He emphasized that great and advanced nations achieve their status through a focus on technology and innovation, and that India must follow this path to attain its developmental goals.

He further highlighted India’s strategic approach to integrating with global economies while ensuring that domestic industries remain competitive. He emphasized that for India to become an advanced economy, it is essential to engage actively with international markets, explore opportunities for trade, and attract investment, while at the same time maintaining a balance between global integration and domestic industry protection. He outlined the government’s consistent focus on negotiating free trade agreements and expanding India’s global trade footprint.

He acknowledged the chemical and petrochemical sector’s significant potential and its strategic role in the nation’s overall development. He noted that the sector has wide-ranging applications and influence across multiple industries, including agriculture, healthcare, infrastructure, construction, energy, and mobility. He emphasized that the sector’s products and services are omnipresent, directly or indirectly affecting almost every aspect of the manufacturing and consumption ecosystem. He urged industry leaders to carefully assess their strengths and identify areas where India can gain a competitive advantage globally. He highlighted the need for the sector to aim for leadership in international trade by increasing India’s share in global exports and moving beyond the current modest contributions.

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