India`s focus on infrastructure empowering economy, giving it fillip: Piyush Goyal
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Union Minister for Commerce & Industry, Piyush Goyal has said that India’s focus on infrastructure is empowering the economy and giving it a fillip. The Minister also said that massive investments both from the government and from the private sector, directed towards infrastructure is boosting the infrastructural capabilities of the country.
Goyal said competitive source of financing is attracting investments from those who are looking for greater safety. He said the stock market is also hitting a 4 trillion mark for the first time and India being amongst the top five global markets has huge opportunities.
The Minister pointed out that the country is the fifth largest economy in the world and the fastest growing economy at 7.6%, this quarter. He further said 'The world trusts India today,' mentioning that the country stands at the cusp of a very bright future as a trusted partner of the world and as a vibrant democracy where people recognize and respect the rule of law.
Besides, Goyal said a resilient debt capital market will be the catalyst for innovation, entrepreneurship and infrastructure development. He noted that massive urbanization will happen over the next few decades even as Tier 2 cities are also going to become metropolitan cities. Also, he noted that Rural Areas incomes are rising, raising spending power across the country.
