You are here: Home » Economy & Policy » News
Business Standard

All indicators pointing towards sharp economic recovery: Goyal

All indicators, including GDP, foreign direct investment (FDI) inflows and exports growth, are pointing towards a clear and sharp economic recovery in the country, Piyush Goyal said on Thursday

Topics
Piyush Goyal | Indian Economy

Press Trust of India  |  New Delhi 

Commerce and Industry Minister Piyush Goyal
Commerce and Industry Minister Piyush Goyal

All indicators, including GDP, foreign direct investment (FDI) inflows and exports growth, are pointing towards a clear and sharp economic recovery in the country, Commerce and Industry Minister said on Thursday.

He said forex reserves have constantly grown from USD 433 billion in September 2019 to USD 638 billion in September this year, while FDI inflows in the first four months of the current fiscal rose by 62 per cent, which is higher than the corresponding figure last year.

"We are encouraged by all the economic indicators as they come out, which point to a very clear and sharp economic recovery. The GDP has grown by a record 20.1 per cent in the first quarter," he said at the India Energy Forum by CERAWeek here.

Goyal further said the government has taken several steps to encourage growth and investment in the renewable energy sector with 100 per cent FDI through the automatic route.

The minister added that India's renewable energy programme is among the largest in the world and the country has 101 GW renewable energy capacity as on September 30, 2021.

"We are aiming towards our initial target of 175 GW by end of 2022," Goyal said, adding India will achieve 40 per cent cumulative electricity capacity from non-fossil fuel-based energy resources by 2030.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 21 2021. 20:16 IST
RECOMMENDED FOR YOU
.