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Budget Blueprint to Boost India's Global Value Chain Presence: Goyal

Commerce Minister Piyush Goyal stated the Union Budget serves as a blueprint to strengthen India's position in global value chains. He emphasized the budget's focus on modern technologies and making India an attractive investment destination. The minister highlighted the government's long-term, fiscally prudent growth story aimed at achieving a developed India by 2047. The budget prioritizes capital expenditure, ease of doing business, and building resilience in manufacturing and services.

Key Points: Budget to Strengthen India in Global Value Chains: Piyush Goyal

  • Blueprint for global value chains
  • Focus on tech and services
  • Ease of doing business reforms
  • Long-term vision for Viksit Bharat 2047
2 min read

Budget a blueprint to strengthen India's presence in global value chains: Piyush Goyal

Commerce Minister Piyush Goyal says the Union Budget is a blueprint to strengthen India's global value chain presence and achieve Viksit Bharat by 2047.

"the budget is a blueprint to strengthen India's presence in global value chains - Piyush Goyal"

Mumbai, Feb 2

India is in a sweet spot today, and the Union Budget for a 'Future Ready Bharat' covers a multitude of sectors, both traditional and modern, giving impetus to services with a major focus on tech, Commerce and Industry Minister Piyush Goyal said on Monday.

In a meeting on the holistic benefits of the Budget at the NSE here, along with investors and captains from the mutual funds and asset management industry, the minister said the Budget addresses specific areas which will help the economy grow faster and achieve our goal of a Viksit Bharat by 2047.

"Delighted by their optimism following the budget, their excitement for the growth opportunities that it supports, as well as the new ideas and suggestions that they shared," Goyal posted on X.

In his interaction, the minister highlighted how in the last 12 years, Prime Minister Narendra Modi-led government has focused on a fiscally prudent and future-oriented long-term India growth story.

"I emphasised how the budget is a blueprint to strengthen India's presence in global value chains and become more contemporary with modern-day technologies while benefiting our consumers," said the minister.

He also reiterated that continuing with PM Modi's vision of rapid reforms, the direction in the budget is to eliminate barriers to business and make it easier for them to flourish, encourage honest businesses, make industries more competitive, compliance easier, and make India an attractive investment and manufacturing destination.

The Union Budget 2026-27 has kept a "long‑term vision at the forefront" by increasing capital expenditure and improving the expenditure mix. The focus is shifting to the long term - with reforms, improving ease of doing business, and inclusive growth getting centre stage. The government has sought to build resilience by focusing on developing the manufacturing and services sectors further, thus setting the stage for the next leg of growth.

- IANS

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Reader Comments

P
Priya S
All this talk of 'Viksit Bharat 2047' and global chains is good, but I hope the benefits reach the small towns and villages. My brother runs a small manufacturing unit and still faces so many compliance headaches. Simplifying that for MSMEs is the real test.
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Rohit P
The emphasis on tech and services is the right move. We can't compete with China on cheap labour anymore. Our strength is our IT talent and digital infrastructure. Becoming a tech-driven services export hub is our sweet spot. Kudos for recognizing that.
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Sarah B
As an investor watching from London, the consistency in policy and focus on fiscal prudence is very attractive. It reduces risk. If the ease of doing business improvements are real on the ground, FDI will continue to flow. The long-term vision is clear.
K
Karthik V
While the vision is grand, I have a respectful criticism. The budget speeches always highlight 'eliminating barriers', but on the ground, the tax bureaucracy and interpretation issues remain a major hurdle for startups. Action on that front needs to match the rhetoric.
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Meera T
Inclusive growth getting centre stage is the most important line for me. Development should not just be about GDP numbers in Mumbai and Delhi. I hope the focus on manufacturing creates opportunities in states like Bihar and Odisha too. Jai Hind!

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