Union Commerce Minister Piyush Goyal announced India’s commitment to attracting $100 billion in foreign direct investment and emphasized stronger research and development (R&D) frameworks. He highlighted India’s focus on innovation, self-reliance, and youth-driven growth as key pillars underpinning the nation’s rapid economic rise.
At the 98th anniversary of the Federation of Indian Chambers of Commerce and Industry (FICCI), Union Minister Piyush Goyal called for stronger R&D frameworks backed by robust industry participation to accelerate innovation. He highlighted India’s $100 billion foreign direct investment commitment from global companies, underscoring the country’s rising stature as a preferred investment destination.
Goyal linked India’s self-reliance drive to its civilizational ethos and cited Mahatma Gandhi’s philosophy of self-elevation. Praising Prime Minister Narendra Modi’s governance which balances economic growth, national security, and innovation, he stressed moving beyond protectionism to embrace competition and quality standards. India’s young, technology-savvy population is rapidly integrating AI and digital tools, positioning the country as a global innovation hub.
He also emphasized inclusive development through initiatives like the MY (Mahila-Yuva) formula, urging industry collaboration in skills development, technological advancement, and global engagement to sustain India’s trajectory as the world’s fastest-growing major economy.
Key highlights
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$100 billion FDI committed by global companies, fueling growth and innovation.
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Focus on building strong R&D frameworks with greater private sector engagement.
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Emphasis on India’s youth-led adoption of emerging technologies including AI.
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Philosophical foundation rooted in self-reliance and Gandhian principles.
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Policy pillars: economic progress, national security, and open competition.
Sources: DT Next (FICCI event coverage); IANS; Investment Guru India; Economic Times.