India on the path to its next industrial revolution, Industry 4.0, say analysts
India is on the path to its next industrial revolution, Industry 4.0, as per analysts at Anand Rathi Share and Stock Brokers.
Union Minister for Commerce and Industry Piyush Goyal on Saturday made an appeal to the Industry to aim for making India a 47 trillion dollar economy when the country reaches the year 2047.
He was delivering the inaugural address at the ‘India Calling Conference 2023’ organised by the Indian Merchants Chamber in Mumbai.
He highlighted the contribution of companies from small countries, such as the Czech Republic and Poland, to the supply chain of big companies around the globe.
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The minister added that India has tried to formalise the economy and has met with great success. The spirit of team, competitiveness, and positivity were necessary for success, and that kind of spirit could be seen in Mumbai, which was not only the financial capital but also the fun capital of India, he added.
Minister Goyal said that every single geography in the world has a lot of hope and expectation from India. “India reflects the vision of the world as one economy. While commerce/industry teams are negotiating Free Trade Agreements with a deep focus on protecting India’s interests, India believes that true prosperity will happen when the whole world prospers. India believes in ‘Vaccine Maitri’ under which it delivered 278 million doses to poorer countries mostly free because India feels safe when the world is safe,” he added.
He further added that the ‘Panch Pran’ given by Prime Minister Narendra Modi could be realised only if it became the commitment of the entire nation. He emphasised that the vision of a developed India would not be possible without the ‘Nari Shakti’ of India and a corruption-free nation. He applauded the commitment of the industry to social causes and said that every India was determined to ensure a better future for India.
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