Union Minister of Commerce and Industry Piyush Goyal addressed the Confederation of Indian Industry (CII) Annual Summit today in New Delhi and said that the Indian economy has continued to show resilience amid global geopolitical and economic challenges, with strong fundamentals and growing global confidence in India. Goyal said India remains the fastest-growing large economy and highlighted that the country has nearly 11 months of import cover in foreign exchange reserves. Referring to India's export performance, he said the country is set to achieve an all-time high export figure of nearly USD 863 billion this year. He added that India's trade deficit in goods and services together is much lower than the country's annual remittances, reflecting strong economic performance. The Minister said India has consistently turned crises into opportunities and noted that the country has always emerged stronger during periods of adversity. He said the current global situation should be viewed as a wake-up call for India to become more efficient, productive and self-reliant.
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