https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

“No Power Can Stop India”: Union Minister Piyush Goyal Calls to Pass Full GST Rate Cut Benefits to Consumers to Boost Growth

Minister Calls for Inclusive Growth, Emphasizes Role of Industry in Strengthening Economy
Indian Masterminds Stories

New Delhi: Union Commerce and Industry Minister Piyush Goyal on Monday urged Indian industry stakeholders to fully pass on the benefits of GST rate cuts to consumers, stating that such measures are vital to boosting domestic demand, driving inclusive economic growth, and reinforcing the foundation of India’s economy.

Speaking at an EEPC India event in the capital, Goyal emphasized that the impact of the Goods and Services Tax (GST) reforms goes far beyond tax reduction, and if implemented responsibly by the industry, it can become a powerful driver of India’s economic aspirations.

GST Simplification Will Create a Virtuous Cycle of Growth

Goyal said the recent GST rate cuts, along with efforts towards simplification of tax processes, will benefit both businesses and consumers. According to him, the changes will

  • Boost domestic consumption
  • Open new opportunities for both small and large enterprises
  • Generate employment avenues
  • Increase income and thereby spending power

“This will create a virtuous cycle of growth that will take the country ahead,” he noted.

Call for Swadeshi and Made-in-India Focus

Reinforcing the spirit of Atmanirbhar Bharat, Goyal encouraged businesses to focus on Made-in-India and Swadeshi products to reduce import dependence and enhance India’s financial resilience.

He urged enterprises to re-evaluate sourcing strategies and look for indigenous options that could help not only individual companies but the broader Indian economy.

“The country’s 1.4 billion people, businesses and trade should focus on Made in India products,” he said.

India’s Economic Potential: From USD 4 Trillion to USD 30 Trillion

Mr Goyal expressed confidence in India’s long-term economic trajectory, stating

India, with a current GDP of around USD 4 trillion, is on track to become the third-largest economy globally in 2 to 2.5 years

By 2047, India could reach an economic size of at least USD 30 trillion

He noted India’s remarkable growth performance, highlighting the 7.8% GDP growth in the last quarter, which he described as a world record.

“No Power Can Stop India” – Global Confidence in Indian Economy

Goyal reiterated that under Prime Minister Narendra Modi’s leadership, India has transformed from a “fragile five” economy into one of the top five global economies, and is now seen as a trusted global partner.

“No power in the world will be able to stop India’s emergence as a global superpower,” he stated confidently.

MSMEs and Trade Are Backbone of Indian Economy

Goyal also acknowledged the critical role of Micro, Small, and Medium Enterprises (MSMEs) in powering India’s economic engine. He emphasized

  • The importance of quality manufacturing under the motto “Zero Defect, Zero Effect”
  • The need to promote exports of high-quality Indian products
  • The goal of ensuring that India becomes a global hub for sustainable and inclusive development

Key Takeaways from Minister’s Address

  • Full GST benefits must be passed to consumers to stimulate demand and fairness.
  • Made-in-India and Swadeshi focus can reduce import dependence and drive growth.
  • India is poised to become the third-largest economy within the next 2–3 years.
  • Government committed to creating a robust, inclusive, and sustainable economy.
  • Businesses must ensure product quality and embrace economic self-reliance.

Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
GAIL
GAIL Organizes Compressed Bio Gas Workshop in Raipur; Focus on SATAT, Policy Support & CBG-CGD Integration
IAS-Officer-Logo
Delhi Bureaucratic Reshuffle: 23 IAS & DANICS Officers Transferred Across Revenue Dept, MCD; Ayushi Appointed SDM Vasant Vihar
AGCA
Gujarat CM Bhupendra Patel Inaugurates AGCA Expo-2025 in Ahmedabad, Showcasing 150+ Stalls and 2,500 Exhibitors- Know More
IPS Officer Indian Police Services
Senior IPS Officer Yogesh Gupta Files CAT Petition Against Kerala Government Over Career Obstruction
Coal-Production-resized
India’s Coal Production Dips Slightly in First Five Months of FY, Govt Focuses on Stability
Bank of Baroda
‘bob Aspire’ by Bank of Baroda: Pre-Departure NRE Savings Account with Lifestyle Benefits for Young NRIs
bihar cabinet
Bihar Govt Allocates ₹594 Crore for Panchayat Bills and ₹100 Crore for Solar Street Lights to Enhance Rural Economy
Madhya Pradesh Logo IM
After 2-Year Delay, 16 State Officers Promoted to IAS in Madhya Pradesh; 68 Posts Still Vacant in Cadre
ADVERTISEMENT
ADVERTISEMENT
Videos
IPS Shikha Goel
How Modern Forensics Helps Police Solve Crimes – IPS Officer Shikha Goel Explains | Video Interview
IPS Shikha Goel
Decoding Digital Dangers: Insights from IPS Shikha Goel on Cyber Crimes
IPS Mukesh Kumar Bhamoo
Managing Elections, Communal Tensions, and Public Safety – Meet IPS Mukesh Kumar Bhamoo | Video Interview
ADVERTISEMENT
UPSC Stories
Ishwarlal Gurjar UPSC
10th Grade Failure to Indian Police Service: Ishwarlal Gurjar’s UPSC Success Path
Read the inspiring journey of Ishwarlal Gurjar from a small village in Rajasthan to becoming an IPS officer....
IAS Minnu P M
“Lazy, Sleepy, Yet Determined”: Minnu P M’s Honest Take on Cracking UPSC
Minnu PM, once a clerk in Kerala Police, cleared UPSC with AIR 150 after five years of struggle. Her...
IPS Ashish Tiwari
From IIT and Investment Banking to Public Service, Meet IPS Ashish Tiwari 
Ashish Tiwari, IIT graduate and former investment banker, chose public service over global finance. As...
Social Media
IAS Medha Roopam
IAS Medha Roopam’s Inspiring Dedication in Flood-Hit Noida Goes Viral: Focuses on Relief, Education Amid Heavy Rains
Books in One Hand, Umbrella in Other: Noida DM Medha Roopam Leads Flood Relief from the Front
IAS Sakshi Sawhney Amritsar DC
Punjab Floods: IAS Sakshi Sawhney’s Emotional Appeal to Elderly Man Wins Hearts, Video of Humanity Goes Viral
Viral Video Captures Emotional Moment as Amritsar DC Shows Sensitivity and Courage Amid Relief Effor...
Masahiro Hara
From Go Board to Global Use, How QR Codes Changed the World: IRAS Officer Ananth Rupanagudi Spotlights Masahiro Hara’s Vision
IRAS officer Ananth Rupanagudi shared a video on Masahiro Hara, the inventor of QR codes, highlighting...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
GAIL
GAIL Organizes Compressed Bio Gas Workshop in Raipur; Focus on SATAT, Policy Support & CBG-CGD Integration
IAS-Officer-Logo
Delhi Bureaucratic Reshuffle: 23 IAS & DANICS Officers Transferred Across Revenue Dept, MCD; Ayushi Appointed SDM Vasant Vihar
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
IPS Shikha Goel
IPS Shikha Goel
IPS Mukesh Kumar Bhamoo
ADVERTISEMENT
ADVERTISEMENT