According to India’s Commerce and Industry Minister Piyush Goyal, India ranks third among global eco-systems. In response to the Demands for Grants from the Ministry of Commerce and Industry, Mr. Goyal stated there are more than 65,000 startups registered with the Ministry and lakhs who are yet to register. Ninety startups in India have achieved unicorn status, that is, a valuation exceeding one billion dollars each.
Atmanirbhar Bharat is not aimed at closing India’s doors, but at giving priority to products that are best manufactured in India, thereby creating global competitiveness. He urged all states and UTs to make use of the GEM portal for all purchases in order to reduce the financial burden. According to him, the MSME sector is geared toward creating jobs for lakhs of people. Wheat exports are also expected to increase from 150 to 152 lakh tonnes this year, according to Minister Goyal.
A total of 28,390 patents were registered in India in 2020-21. According to him, the Gati Shakti program of Prime Minister Narendra Modi had played a key role in driving the development of infrastructure in the country. In his address to the House, Minister Goyal informed the House that big investments are to be made in the rubber industry in the coming days.