Manufacturing to tech: Goyal details pillars of India 2047 vision

Union Commerce and Industry Minister Piyush Goyal outlined four core pillars manufacturing, skilling, investment and technology as central to India’s vision of becoming a developed nation by 2047. Speaking at the curtain raiser of the 98th FICCI Annual General Meeting in New Delhi on Tuesday, he stressed that building a strong manufacturing base and reducing supply-chain vulnerabilities must remain top priorities as India seeks to emerge as a global industrial hub.Goyal said the country must convert its post-2000 “Amrit generation” into a highly skilled, performance-driven workforce equipped with practical, industry-ready capabilities. He emphasised the need to move beyond the preference for white-collar roles and instead promote training-led technical proficiency to meet domestic and global industrial requirements.
Highlighting the third pillar, he said the government is focused on creating a robust investment ecosystem through deregulation, ease of doing business, decriminalisation of outdated laws and reduction of compliance burdens. He noted that continuous consultations are underway to streamline FDI and FII procedures to ensure faster and more efficient investment flows into the country, adding that stable policies, predictable regulations and currency stability will be essential for sustained growth.

Four dimensions on which we must focus to become #ViksitBharat:

????Make India a domestic manufacturing hub
????Making the Amrit generation a skilled workforce
???? Strengthening our investment-friendly ecosystem
????Getting cutting-edge technology into the country pic.twitter.com/w5XMMzeixu

— Piyush Goyal (@PiyushGoyal) November 18, 2025

On technology and innovation, Goyal said India must harness emerging fields such as AI, quantum computing and machine learning to accelerate progress. He pointed to the country’s strong STEM talent base, growing Global Capability Centres and the launch of the Rs100,000 crore Research, Development and Innovation Fund as significant enablers of India’s technological advancement.Goyal also presented a five-point agenda for deeper collaboration with FICCI—fiscal discipline, innovation, connectivity and critical infrastructure, commerce and inclusive growth. He urged the industry body to expand its outreach across India, support MSMEs, adopt global best practices and drive sustainability and quality initiatives. He affirmed that with collective effort from government and industry, India is well positioned to emerge as a developed and prosperous nation by 2047.

(Business Correspondent)