Govt Policies Could Boost Rupee, says Piyush Goyal; Launches “Bharat@100” Book

GG News Bureau
New Delhi, 2nd August. Union Minister of Commerce & Industry Piyush Goyal expressed optimism that recent government policies aimed at boosting semiconductor manufacturing, domestic shipping, and reducing imports of oilseeds, rubber, and pulses could lead to an appreciation of the rupee against the dollar.

He made these remarks during the ASSOCHAM launch of the book “Bharat@100: Envisioning Tomorrow’s Economic Powerhouse” by former Chief Economic Advisor Shri KV Subramanian.

In his address, Goyal highlighted the government’s commitment to enhancing the quality of life for all citizens and transforming India into one of the top three global economies.

He emphasized efforts to shift from an oil-dependent economy to electric mobility and to prioritize quality in manufacturing.

The minister noted that these steps, alongside advancements in defense self-sufficiency, transparency, and macroeconomic stability, are crucial for India’s development.

Goyal also drew parallels between India’s current economic position and China’s rapid growth period from 2000-2020, suggesting that India could replicate China’s success with stable economic policies and lower inflation.

He praised Prime Minister Narendra Modi for acknowledging the role of private sector wealth creators in job creation and economic growth, underscoring the importance of a robust manufacturing sector and stable policies for achieving India’s development goals by 2047.