00:01Also in an exclusive conversation with Business Today Television's Karishma Osudani, Commerce and Industry Minister Piyush Goyal has said that
00:07India-U.S. trade negotiations are progressing smoothly with just a few outstanding issues left to resolve and an announcement
00:14possible soon.
00:15Goyal has also hailed Andhra Pradesh's proactive investment push, saying global companies increasingly are seeing India as a trusted partner
00:23and a future investment powerhouse. Let's listen in.
00:28Joining me is Union Cabinet Minister Mr. Piyush Goyal. Sir, on ground we are here in Vizac. I remember last
00:34time also that we were here, we spoke about it when the Andhra Pradesh government had announced 11 lakh crore
00:40investments and this year they have announced the same number again.
00:43What kind of policy support can we expect from centre, especially because of the new projects that they are looking
00:50forward to?
00:50We are working very closely with the Andhra government. It is a performing government, it's a proactive government.
01:00The people across the world have recognised that under the leadership of Chandra Babu Garu, the state is providing some
01:11very exciting incentives.
01:14The governance in the state has improved dramatically. The speed of approvals and the quality of infrastructure that the state
01:23offers today clearly demonstrate that it is a state to focus on in terms of investments in green energy, investments
01:35in infrastructure, investments in data centres and technology,
01:40industry, automobiles. Andhra Pradesh has very clear defined goals with their place before the people. I must place on record
01:53my appreciation of the concept of an escrow account for providing incentives to entrepreneurs that Andhra Pradesh has come up
02:02with.
02:02It's unique. It's unique. It's the first state in the country to do that. It generates a lot of confidence
02:08in investors about continuity and safety of the investments that they make and the assurance that incentives will be paid
02:18on time.
02:19So it's a very forward-looking government, which I'm sure will serve the people of Andhra Pradesh, provide new opportunities
02:29for the people of Andhra Pradesh. It's a NDA government. It works under the guidance and leadership of Prime Minister
02:37Narendra Modi and together Prime Minister Modi and Chandra Babu Garu Naidu are working for a better future for the
02:45people of Andhra Pradesh.
02:47Sir, more than a decade of your government and close to a decade in terms of numbers of the FTAs
02:54that you are about to achieve. We've been, of course, following up. What is the road ahead looking like for
03:02these trade negotiations?
03:04Well, I think the world today looks up to India as a trusted partner, as a country full of talent
03:12and skills, young country with aspirational youth wanting to work hard, wanting to contribute to the nation and to a
03:24better future for their families.
03:25And I think this is what is driving India's growth. We are today the world's fastest growing large economy. Thanks
03:34to our young boys and girls, our entrepreneurs, our startups, our retail store owners, our farmers, our fishermen.
03:46It's a collective effort where everybody is pitching in to make India a global nation, to bring India on the
03:58global map with international trade growing at a scorching pace.
04:03Our exports are going to grow this year from $8.63 billion last year to over a trillion dollars, which
04:10is a growth of more than 15%, which I suspect you will not find in history at any point of
04:19time.
04:19So it's really India's time. We are providing high quality technologies. Innovation is being attracted in India. The framework is
04:31being built to attract larger investments into India's infrastructure.
04:36And that is feeding into the demand for goods and services, which is reflected in higher sales, higher earnings numbers.
04:46It is also reflected in the fact that more and more companies are announcing huge investment plans, both domestic and
04:55foreign companies.
04:56India clearly is the future as we work towards our $30 trillion goal by 2047.
05:06So we started this year with good news from your end when it came to the EU FTA agreement. Can
05:14we expect a year and a surprise also coming in? Because I must address the elephant in the room, which
05:21is the U.S. team that had visited last week on customs alignment. How is the negotiation going?
05:27We are having fabulous negotiations with the United States of America. They are a very, very important partner of India's
05:37in terms of trade, in terms of technology, our defense partnership, our critical mineral partnership.
05:44So it's a very multi-dimensional relationship. I think in every respect, our negotiations are smooth, very friendly. And I
05:59think the good news is that there are no obstacles and a few issues left, which we are sorting out.
06:07Everything is possible and you could hear the announcement quite soon.
06:12Thank you very much, sir, for speaking with us.
