Cover StoryGeneral


By Reena Bajaj Associate Partner, Singhania & Co. LLP


In the dynamic landscape of Indian politics and economic policymaking, one name that stands out prominently is Shri Piyush Goyal. He is presently Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, Textiles, and Leader of the House, Rajya Sabha and at the forefront of shaping the Country’s economic trajectory. This cover story delves into the life, achievements, and impact of this visionary leader.

Early Life and Education: He was born on June 13, 1964, in Mumbai, India. He is an all India second rank holder Chartered Accountant and second rank holder in Law from Mumbai University. Goyal’s educational background laid the foundation for a career that seamlessly blended business acumen with legal expertise.

Political Journey:

His foray into politics began at a young age when he joined the Akhil Bhartiya Vidyarthi Parishad (ABVP), the student wing of the Rashtriya Swayamsevak Sangh (RSS). His commitment and leadership qualities quickly garnered attention, leading to his active involvement in the Bhartiya Janata Party (BJP). Shri Goyal’s political journey witnessed significant milestones, including his tenure as the National Treasurer of the BJP and his role in key organizational responsibilities. His reputation as a diligent and result-oriented leader continued to grow, eventually catapulting him into the Union Cabinet.

Economic Stewardship:

As the Minister of Railways, Piyush Goyal undertook the mammoth task of modernizing and transforming the Indian Railways. His innovative approach and emphasis on technology integration brought about substantial improvements in efficiency, safety, and customer service within the railway sector. As the Minister of Railways, he played a key role in achieving the best-ever safety record for India, with zero passenger deaths in rail accidents.” He Led the implementation of the world’s largest food security program, Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) by distributing free food grains to nearly 80 crore poor and vulnerable people over a 2-year period.

Policy Making:

Shri Goyal’s pivotal role as the Minister of Commerce and Industry in actively shaping trade policies and negotiating international agreements to enhance India’s global standing. His focus on promoting ‘Make in India’ and streamlining regulations aimed to bolster domestic manufacturing and attract foreign investment. He has been part of initiatives to boost Make in India and improve the ease of doing business. He oversaw the launch of Production Linked Incentive (PLI) Schemes to boost Make in India.

Energy and Environment:

In addition to his economic responsibilities, Goyal has been a key figure in India’s energy landscape. Serving as the Minister of Power and Renewable Energy, he spearheaded initiatives to increase energy production, enhance grid reliability, and promote renewable energy sources. Goyal’s commitment to sustainable development earned him recognition on the global stage. As the Minister of Power, Coal, and New & Renewable Energy, he successfully implemented the world’s largest LED bulb distribution program (UJALA).

Participation in Global Forums:

Piyush Goyal has represented India at various international forums and meetings, advocating for trade and investment opportunities for the country. He actively lead the signing of a Free Trade Agreement (FTA) with UAE, the fastest-ever negotiated FTA globally, & India- Australia Economic Cooperation and Trade Agreement (ECTA), India’s 1st agreement with a developed country after a decade

Legacy and Future Prospects:

Piyush Goyal’s legacy is characterized by a tireless commitment to public service, a strategic vision for economic growth, and an unwavering dedication to the nation. As India continues to navigate complex economic landscapes, Goyal’s influence is expected to endure, leaving an indelible mark on the country’s progress.

Q: How is the government promoting ease of doing business in India, particularly in the commerce and industry sectors?”

We are working on simplifying regulations, reducing paperwork, and leveraging technology to make it easier for businesses to operate. The ‘Make in India’ initiative is also a key driver to attract investments and boost manufacturing.

Q: In the current economic scenario, how do you see India’s role in the global economy, and what measures are being taken to strengthen it?

We are focusing on economic reforms, infrastructure development, and trade facilitation to make India an attractive destination for global businesses. The government is committed to creating an environment conducive to sustainable economic growth.

Accolades and Recognitions:

He was awarded the 4th Annual Carnot Prize in 2018 in recognition of pathbreaking transformations in India’s energy sector by making energy efficiency a people’s movement. Carnot Prize is the most prestigious award in the energy sector given by the Kleinman Centre for Energy Policy at the University of Pennsylvania for distinguished contributions to energy policy through scholarship or practice.


In the ever-evolving tapestry of Indian politics and economic development, Piyush Goyal emerges as a steadfast leader whose contributions have left an enduring impact. As he continues to chart new paths and navigate challenges, the nation looks to him for guidance in shaping a prosperous and resilient future.

Future Vision of Indian Economy

Our demographic dividend gives us huge opportunities, opens the doors to a very bright future for the country. Therefore, we need a holistic vision which envisions growth in all sectors, makes it easier to do business, promotes innovation, research, development, modernity and yet also respects family values, our culture, makes it easier to live, that we call ‘ease of living’ for every single citizen.”

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