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India is expecting the fastest growth in the economy and it would go up to USD 30 trillion in 3 decades

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Union Minister of Commerce and Industry Piyush Goyal asserted that India should be aspiring for much faster and much deeper growth and the country is capable to take its economy to USD 30 trillion in three decades.

“Even at 8 percent growth in our GDP over the next 30 years, India may be well beyond USD 30 trillion economies. Women’s power will play an important role in this and there is always space for them on the high table,” Goyal said on Monday while addressing the FICCI event titled ‘Invest in Her: Women Entrepreneurship, Trade, and Commerce’.

Goyal added that the country will never be able to achieve inclusive growth unless women are given importance. “It is the empowerment is ultimately what is going to help all the women in our country. Unless we see more and more women coming into the workforce and see them as entrepreneurs, we can’t achieve our target,” he emphasized.

Goyal further stressed on more women’s representation in businesses as directors and owners based on merit and not just reservations.

“Unless we set ambitious goals, we are not going to achieve much. We should be aspiring for 50 percent of directors of companies to be women, not by reservation but by choice and sheer capabilities,” he added.

Speaking on women empowerment, the Minister stated that Prime Minister has been clear that unless we strengthen the women of India, we will never be able to look at inclusive growth.

“The government has decided to gift only handicrafts or handloom products Made in India in this 75th year of Independence. We must be able to create a market to support the women entrepreneurs,” he noted.

The Centre, he said, is working actively with different countries to finalize Free Trade Agreement (FTA) and talks with the United Kingdom (UK) are in the final stages which will give zero-duty access to various business sectors in the world market.

Speaking at the same event, Jayanti Dalmia, President, of FICCI Ladies Organization (FLO) said that India is poised to benefit from equality where currently only 25 percent of the labour force is female.

The economic impact of achieving gender equality in India is estimated to be US 700 billion of added GDP by 2025, Jayanti added.

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