India Must Turn Global Challenges into Opportunities with Nationalist Spirit: Piyush Goyal

Union Minister of Commerce and Industry, Shri Piyush Goyal, has called on Indian industry to rise to the occasion and convert global challenges into opportunities, driven by a strong sense of nationalism and collective purpose. Speaking at the Foundation Day celebrations of FICCI in Mumbai, the Minister emphasized that India is uniquely positioned to shape a resilient and self-reliant economic future.

Drawing parallels with India’s agile response during the Covid-19 pandemic and the Y2K crisis, which propelled the Indian IT sector onto the global stage, Shri Goyal said that the present global situation offers a similar moment of transformation. “Just like in the past, India can again lead by converting crises into catalysts for growth,” he remarked.

He stressed the need for unity among industries and nations, urging businesses to collaborate instead of competing destructively. “We must support each other, avoid predatory practices, and prioritize long-term sustainability over short-term profits,” Shri Goyal said.

Citing Mahatma Gandhi’s 1931 address to FICCI, Shri Goyal urged industries to align their goals with the spirit of nationalism, echoing the ethos of Prime Minister Narendra Modi’s vision of ‘Viksit Bharat’, which aims for inclusive development and delivering economic benefits to every citizen.

The Minister also highlighted the dangers of over-dependence on cheap imports, which he said have disrupted global supply chains in the past. Instead, he advocated for resilient, diversified supply chains and emphasized that food and energy security are becoming vital priorities in today’s geopolitically sensitive world.

With India being the world’s fastest-growing major economy and home to a 1.4 billion-strong consumer base, Shri Goyal described the current era as a “once-in-a-lifetime opportunity.” He projected that India’s economy could surge from $4 trillion to $30–35 trillion over the next 25 years if the momentum is maintained.

In his closing remarks, Shri Goyal made a passionate appeal to industry leaders: “Be a part of the solution. Be a part of this historic moment. With unity and determination, India is unstoppable.”