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UK-India Week 2018 : 'Modi taking prudent decisions, not bothered about elections,' says Goyal

By Chennabasaveshwar

Union Minister Piyush Goyal asserted that PM Narendra Modi was not bothered about elections while taking a prudent decision for India. He was addressing delegates in 'Global Investment Forum' held as a part of UK-India Week 2018 in Buckinghamshire.

The second day of Leadership Conclave was held as a part of 5th Annual UK-India Week. The conclave has been hailed as a landmark event for growing and developing the UK and India's strategic relationship.

Union Minister Piyush Goyal

In the morning session, panel discussions were held under two themes: 'Building Modern Economies - Smart Cities, Smarter People' and The Future of Mobility & Launch of 'Move India'.

In the afternoon session, delegates assessed some of the flagship programmes and policies of the PM Narendra Modi government and discussed how they were impacting the business climate and outlook on investing in India. Also, they shared sector analysis, identified challenges and explores investment opportunities.

Sessions within the Global Investors Forum:

  • Shri Piyush Goyal, Minister for Finance Railways & Coal, will be in conversation with Sanjay Nayar, over an interactive video conference
  • FDI into India
  • Private capital opportunities in India
  • Creating local capital pools for long-term infrastructure requirements - moving long-term savings into investments

India Inc's UK-India Week 2018, being held in London and Buckinghamshire from 18-22 June, is a series of high impact events produced to take the UK-India bilateral relationship to new heights.

Stay tuned for live updates:

Newest First Oldest First
3:06 PM, 26 Sep
POst 4
3:05 PM, 26 Sep
Post 3
3:00 PM, 26 Sep
Post 2
2:57 PM, 26 Sep
Post 1
8:53 PM, 21 Jun
Piyush Goyal signs-off by saying, "You finally have a govt which is an alternative to the Congress and a strong leader at the helm in Delhi; I believe BJP will get more than 300 seats in the 2019 election on the back of our achievements."
8:32 PM, 21 Jun
Piyush Goyal on achieving double-digit growth rate: India with its demographic dividend and aspirational middle class, we have a huge market demand; getting double-digit growth is not impossible at all Logistics costs becoming competitive in India will be crucial to achieving higher growth rates Infrastructure push will help economy prepare for double-digit growth. Manufacturing is the next big ticket coming back into the Indian economy Indian manufacturing will leapfrog into more modern structures. India offers a huge marketplace to become world leaders in electric vehicles. We have brought in structures that are transparent and honest.
8:23 PM, 21 Jun
About the problems in the Indian banking sector, Piyush Goyal says, "We don’t shove banking stress under the carpet; it’s important that the Indian banking sector gets the support it needs. We are working to ensure the Indian banking system is strong and viable."
8:16 PM, 21 Jun
Sanjay Nayar says, "Everybody knows BJP hasn't given freebies and subsidies..." Piyush Goyal says, "We are determined to maintain fiscal discipline. I am not ruling out cutting taxes as long as overall tax collection does not fall. PM Modi believes we needn’t bother about elections if a decision is good for India. Indians must trust PM Modi to do what’s in the nation’s best interest."
8:11 PM, 21 Jun
Sanjay Nayar asks PG about govt vs private investment in India. Goyal replies, "We are changing the whole mindset of the nation. In the past, we had short-term gain without looking at long-term pain. BJP is changing the model prior to 2014. We have primed the country for the future."
8:09 PM, 21 Jun
"The biggest achievement of this govt is making India future ready. that is what happened in China is happening in India," says Goyal.
8:06 PM, 21 Jun
Piyush Goyal: The formalisation of the economy has occurred as a result of GST. Building a clean India is also part of the agenda and impacts health costs. Today we have a country which is engaging with the world as an honest economy. Our policy framework is ensuring that the money that comes into our country is clean money.
8:04 PM, 21 Jun
"Another attraction is India becoming an honest economy; you don’t have to worry about corruption in high places. Stable, predictive, simplified policy framework will help change the India narrative. In India, there is a holistic effort at a scale which is unprecedented," says Goyal.
8:02 PM, 21 Jun
Piyush Goyal:In almost every respect, India today is becoming more and more attractive to global investors. Another attraction is India becoming an honest economy; you don’t have to worry about corruption in high places"
8:00 PM, 21 Jun
"We have a fairly stable currency after a very long time and we have been able to grow Forex reserves in India," says Piyush Goyal.
7:58 PM, 21 Jun
Piyush Goyal says,"We have an economy where current account deficit is under control."
7:52 PM, 21 Jun
Union Minister Piyush Goyal joins the discussion.
7:35 PM, 21 Jun
Vikas Seth, Credit Suisse banker, says, "FDI has been running 40 million dollars per year for four years. Investors have focussed on technology and the investment sector. There is a smattering that has gone to industrials and telecom."
7:27 PM, 21 Jun
"PM Modi wants young Indians to be job makers, not seekers. Make in India touches defence, aerospace, medicine. Ease of Doing Business report showed that India jumped 30 places in one year," says Shruti Singh.
7:25 PM, 21 Jun
Shruti Singh, Deputy Secretary (DIPP), says, "By 2025, the average age of an Indian will be 29; this is the new India. India's economy to grow at 7.4 per cent. We are the third largest trading economy. In 2025, the average Indian will be 25 years."
7:21 PM, 21 Jun
'We had teething troubles, but GST implementation has been among the fastest in the world. Today employment is moving from informal to formal sector in India as we speak.'
7:20 PM, 21 Jun
‘The Indian #FDI regime is one of the highest liberalised policy in the world.'
7:17 PM, 21 Jun
"Ease of Doing Business has helped in the laggard to do business. State governments are doing beyond what is required," says Rakesh Mittal.
7:14 PM, 21 Jun
Rakesh Bharti Mittal says, "The Indian FDI regime is one of the highest liberalised policy in the world. The government of India is inviting investors while many are talking of protectionism."
7:12 PM, 21 Jun
Rakesh Bharti Mittal states, 'Make in India' and 'Skill India' should be part of the growth story.
7:06 PM, 21 Jun
Manoj Ladwa says, "We are at a critical juncture not only in India but also in the global economy. Continuity really matters at this time. The investors I speak to are backing continuity. We need stability now."
7:05 PM, 21 Jun
"At the government level, they have done a good job with not dolling out welfare schemes," says Sanjay Nayar during interaction with the audience.
6:59 PM, 21 Jun
"As long as inflation expectations are in people's minds, people will spend it on real estate and jewellery. Inflation expectations are high; borrowing in rupees is not bad," Nayar adds.
6:58 PM, 21 Jun
"The Indian government has done a good job with not giving subsidies. They need to work on bank privatisation," says Nayar.
6:58 PM, 21 Jun
Sanjay Nayar, CEO of KKR, the moderator of the session, says, "How do you get top-line growth? India has a top-line GDP issue if we are thinking about uplifting people from the poverty line."
6:54 PM, 21 Jun
Manoj Ladwa opens the 'Global Investors Forum' session. Union Minister Piyush Goyal will participate via video conference

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