Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Government of India, Shri Piyush Goyal today said India is making Resurgent Stride towards a $5 trillion Economy. Addressing the ICAI Dubai Chapter during his visit to the UAE, Shri Goyal said led by Prime Minister Shri Narendra Modi, India today is set on a path to become Aatmanirbhar & is taking bold reforms.
тАЬUnder PM Modi, we are seeing rise in Economic indicators despite pandemic. IndiaтАЩs merchandise┬а exports in the first half of FY2020-21, viz Apr-Sep, 2021, notched up to $197.11 bn, recording 23.8% increase over Apr-SepтАЩ19. Manufacturing PMI avg. improves to 53.8 (Q2) from 51.5 (Q1) while GST collections have hit a 5-month high in Sept,тАЭ he said.
The Commerce Minister said $5 trillion economy is a bold ambition & every Indian has to contribute in making it possible and make it a mass movement. Startup India, PLI Scheme, Single Window System, Industrial Corridors, National Infrastructure Pipeline, Reduction in Corporate Tax, Removing Retrospective Income Tax, Liberal FDI policy etc. are some of the key reforms and schemes initiated by the Government, said Shri Goyal.
тАЬDe-risking economy by ensuring transparency in financial sector, Strengthening national initiatives such as Digital India, Skill India and inculcating financial literacy of common man esp. farmers & MSMEs are steps to boost investor confidence in the Indian economy,тАЭ he said.
Shri Goyal said India-UAE partnership will be a driving force in our mutually beneficial ties.
тАЬIndian community of about 3.4 million is the largest ethnic community in UAE constituting roughly 30% of the countryтАЩs population and they act as a bridge between the two countries.┬а Our celebration of тАШAzadi Ka Amrut MahotsavтАЩ coincides with UAEтАЩs celebration of ‘Year of 50’ to commemorate declaration of the union in 1971,тАЭ he said, adding, тАЬWe have taken the next step in our friendship by launching the CEPA negotiations only last week.тАЭ
Lauding ICAI Dubai as the largest and most active chapter among 45 Overseas chapters of ICAI, Shri Goyal said, тАЬDubai is like IndiaтАЩs extended neighbourhood & ICAI Dubai is IndiaтАЩs extended home for CAs.тАЭ
He commended ICAI Dubai for playing a pivotal role in successfully rolling out of VAT in the UAE and thanked the Dubai Chapter for their selfless support to India during COVID-19 by supplying Oxygen Concentrators, food & essentials.
Shri Goyal said the CAs will play a pivotal role in тАШCatalyzing Reform & Creating ValueтАЩ.
тАЬCAs in India need to start looking beyond industry expectations, towards expectations of the nation & society from the profession. CA fraternity to work on Mission Mode to fulfill Prime Minister ModiтАЩs mission for creating global level Indian audit firms. I urge CAs in Dubai to invite your clients (UAE buv:g├з tcsiness houses) to invest in India & benefit from our large market,тАЭ he said.
It may be noted that┬а Shri Piyush Goyal, Union Minister for Commerce and Industry, Textiles, Consumer Affairs and Food & Public Distribution is in Dubai to Inaugurate India Pavilion at Dubai Expo. The official visit is being seen as major step towards boosting Indo – UAE Strategic┬а partnership and taking trade and investment between to unprecedented levels. During last 2 days the engagements include meetings with┬аH.E Dr. Thani Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, H.E .Ahmed Bin Zayed Al Nahyen, Member Executive Council and Director Abu Dhabi Investment Authority, top business houses in Emirates like H.E. Sultan Ahmed Bin Sulayem – Group Chairman and Chief Executive OfямБcer of DP World and the Chairman of the Ports, Customs & Free Zone Corporation, H.E. Mohamed Ali Rashed Alabbar – Founder & Managing Director of Emaar Properties; Founder & Director of Noon.com; Chairman of Eagle Hills; Chairman of Americana Group, Mr. Yusuffali MA, Chairman & Managing Director, Lulu Group, Mr. Stephen Moss тАУ Regional CEO and Group Board Member, HSBC Bank accompanied by CEO, HSBC India and HSBC UAE, and Maj. Gen. (Retd.) Sharafuddin Sharaf тАУ Vice Chairman,┬аSharaf Group; Chairman, UIBC.
