Indian Railways to invest $700 bn in 12 Years for $5 trillion economy: Piyush Goyal at ASSOCHAM

New Delhi: The Indian Railways plans to invest $700 billion through partnerships, joint ventures, and collaborations to strengthen the infrastructure and reach the farthest corners of the country in the next 12 years, said the Commerce & Industry and Railways Minister Piyush Goyal in New Delhi on 20 December. He was addressing ASSOCHAM which is celebrating 100 years, about Strengthening India’s Global Positioning.

In his address, Piyush Goyal urged Indian industry to be in constant dialogue with the Government so that all the problems and hurdles that industry and business face today may be dealt with, and the Government’s commitment for a better India, for the 1.3 billion aspirational citizens who are looking for a better quality of life, can be met at the earliest.

Government of India will be a facilitator and an enabler for industry and entrepreneurship to ensure that harassment at the hands of government functionaries, both at the centre and the states, comes to an end said the Minister. For this he urged ASSOCHAM with its 4 lakh plus members to give feedback that will help Government both at the Centre and the States to look at regulatory, non-regulatory, judicial and any other impediments that are roadblocks for industry and entrepreneurship.

Goyal urged industry to adopt and encourage innovation by funding research and development, and to work closely with academia so that India may become a true innovation nation where startups can flourish and become positive disruptors in industry by creating more jobs for the youth of the country.

He gave the example of the United States of America and China that have more than 4,200 and more than 1,200 researchers per million people respectively, noting that India has only 216 number of researchers per million.

Commerce and Industry Minister congratulated ASSOCHAM on its centenary year and appreciated the work it has done for a century for Indian industry and business.

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The ID Staff

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