“If you are moving the informal economy into the formal economy, and if the transactions which for years were never reported as part of GDP are now transacted through banking channels, it will only add to the GDP, not reduce the GDP.”

Indian politician, since 2019

Piyush Goyal is an Indian politician. He has served as India’s 13th Minister of Commerce and Industry since 2019, and he is the longest serving holder of that office. He has also served as Minister of Textiles and as Minister of Consumer Affairs, Food and Public Distribution. Elevated to Cabinet Minister on 3 September 2017, he previously served in the Rajya Sabha for Maharashtra and was Leader of the House there. He was later elected to the 18th Lok Sabha from Mumbai North. In 2018, he received the Carnot Prize for distinguished contributions to energy policy.