Sustainable growth needs collective effort: Piyush Goyal

Commerce Minister Piyush Goyal on Wednesday said that sustainable growth cannot be achieved unless there is a collective effort from all stakeholders of the society including the government, businesses, and the citizens.

Addressing the India-Europe Business and Sustainability Conclave organised by industry body CII, Goyal said that the partnership between India and the European nations was important for ensuring sustainability and inclusive growth and making the world a better and safer place.

The minister highlighted that it is important to recognise that developing countries vis-a-vis developed countries will have different goals and timelines in their growth journey, and therefore, all countries must be sensitive to each other’s needs, goals and outcomes.

Sustainability and inclusive growth were critical elements of India’s Union Budget 2023, the Commerce Minister added.

“Basic needs including access to water, digital and infrastructure connectivity, technology, healthcare, and education, among others, must be assured to everyone,” he added.

Goyal stated further that India’s growth story is driven by its aspirational youth who also recognise sustainability as an important element of India’s future growth.

The Union Minister urged the business leaders and the global political leadership to come together in driving collective efforts in transitioning towards a greener future.

“India is an indispensable and strategic partner for the European Union,” said Josep Borrell, high representative of the European Union for foreign affairs and security policy, and vice president, European Union.

He highlighted that India is an important partner for the EU in many areas, including energy and technology, adding that there is greater potential for increasing India-EU energy cooperation, particularly in green energy and just transition.

“The Indian and European economies are connected through trade and innovation and cooperation between the two must be explored further as the two together can shape a better future for the world,” said Wopke Hoekstra, Deputy Prime Minister and Minister of Foreign Affairs, The Netherlands.

British Foreign Secretary James Cleverly said that India’s G20 presidency has come at the right time, making India a crucial partner for the UK.

He emphasised that the UK would lend its support to India’s G20 presidency and would work together to strengthen the global trade system. Cleverly further said that the India-UK free trade agreement has the potential to deliver real benefits across both economies.

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