The Hon’ble President of India, Smt. Droupadi Murmu, attended the event as Chief Guest and lauded India’s engineering exports and their significant growth over decades. She underlined the strategic importance of exports in enhancing India’s global economic position.
India’s Trade and MSME Strength
Shri Goyal highlighted the vital role of trade and the MSME sector as the backbone of India’s economy. He pointed out the remarkable progress of engineering exports, which rose from USD 10 million in 1955 to USD 116 billion today. “With time, the engineering sector will achieve even bigger goals and greater strength,” he added.
He reiterated India’s commitment to “Zero Defect, Zero Effect” (ZED) growth, stressing the importance of manufacturing high-quality products for both domestic consumption and global markets. Shri Goyal emphasized India’s position as a trusted international partner and its leadership in sustainable development, ranking among the top three globally in sustainability for consecutive years under COP21 commitments.
Economic Growth and GST Reforms
Under Prime Minister Narendra Modi’s leadership, India has transitioned from a fragile five economy to one of the world’s top five. Shri Goyal highlighted that India has been the fastest-growing major economy for the last four years, with the latest quarterly GDP growth at 7.8 percent, marking a global record.
GST rate cuts and simplification have stimulated domestic demand, creating new employment opportunities and boosting incomes. Shri Goyal stressed that when infrastructure development and consumer demand grow on this strong economic foundation, India is poised to become a global economic powerhouse.
The Minister called for equitable distribution of economic benefits, emphasizing that the advantages of GST cuts must reach every citizen. Inclusive growth, he said, will follow when India works as a united family across sectors, reinforcing the country’s path to sustainable and robust development.
Future Outlook
Shri Goyal concluded by affirming India’s focus on Swadeshi, Atmanirbhar Bharat, and sustainability as key drivers for the nation’s economic growth. He expressed confidence that India can set an example globally for inclusive, environmentally conscious, and high-quality economic development.
