VISAKHAPATNAM: Vice President of India, CP Radhakrishnan, who inaugurated the two-day CII Partnership Summit in Visakhapatnam on Friday, said this is the right time to invest in India, the world’s fastest-growing major economy. He noted that both India and Andhra Pradesh have progressed well through cooperation between the Centre and State governments, and highlighted the leadership of Prime Minister Narendra Modi and Chief Minister N Chandrababu Naidu.
“Why do we have to do business? Because business stimulates economic activity. Why do we have to stimulate economic activity? Because that is the only way we can create wealth. Why do we have to create wealth? Because unless wealth is created, poverty cannot be eradicated anywhere.
So, doing business should be easy – it should be a pleasant activity. I am sure that Andhra Pradesh is the best destination for doing business. It has one of the most wonderful business environments created by any State government,” Radhakrishnan explained.
He noted that India’s Ease of Doing Business (EoDB) is set to become one of the best globally, driven by ongoing reforms in labour, taxation, and infrastructure. Elaborating on India’s strengths, Radhakrishnan said the country has emerged as a knowledge-driven economy by seamlessly integrating technology with commerce.
Highlighting the nation’s rapid rise, he said India is already the world’s third-largest start-up ecosystem and is on track to become the third-largest economy.
Citing the booming energy sector, he added that India is poised to become a global hub for clean technology exports, while emphasising the need to balance growth with environmental sustainability.
Stating that India will always maintain cordial relations with all other countries, as it wishes to treat every nation equally, the Vice-President said India has never dictated terms to anyone and will not allow other nations to interfere in its internal matters.
“India is growing today and at the same time India is friendly with everyone. We all must grow together, not at the cost of others, but by protecting the interests of each other,” he said.
Observing that India’s rise will benefit the world, Union Minister for Commerce and Industry Piyush Goyal said the journey towards a Viksit Bharat will be driven by three pillars: technology, trust through righteousness, and trade through capability. .
India’s trade performance last year tells a remarkable story, with exports crossing USD 825 billion. India is advancing FTAs with the UK and the EFTA bloc, which will bring USD 100 billion in FDI and one million direct jobs for people, he said.