He said the government, academia, and private sector are working together for it.
The government is addressing the challenges of each sector, he said, adding that “we are studying all the laws and regulations around the industry in India to kind of demystify the business environment, bring in more simple and predictable regulatory practices.”
Goyal was speaking at the India Energy Forum of CERAWeek.
“We in the ministry are working with states and local bodies to try and make it easier to get licenses, permissions, approvals and their reporting formats to make it easier for businesses and make regulations less intimidating,” he added.
Talking about global supply chains, Goyal said the world has now realised that it needs trusted partners and a fair and transparent trading system, equal and equitable market access.
“It can not be that large companies are thrown out of certain countries and not allowed to even enter, when you have countries which have not allowed Facebook and e-commerce companies or even something like chat rooms to come in from other parts of the world,” Goyal said.
“…India has allowed all sorts of engagements and allowed international companies to work in India, prosper in India and grow in India and leveraging 1.3 billion people market. I think the world today has seen in India…an open economy and therefore I believe that India has an important role to play in the diversified supply chains that many countries are looking for,” he added.
On railways, Goyal said the entire network will be completely electrified by December 2023.