"I think one good step which the government has taken is to get GST done but that is only a part of the story. I think the other part I hope my other friends in other parties and others will cooperate so that we can create a single largest Indian market which will be 1.25 billion customers," he said here.
A large market which will be rivalling other markets of the world and therefore India should implement GST, he said at an event organised by Ficci.
The main opposition Congress' floor managers in the Rajya Sabha have made it clear to the government that it will not be possible for them to back the bill without referring it to a Select Committee.
Since the government is short of numbers in the Upper House, it is toying with an idea of referring the GST Bill to the Select Committee.
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The emissaries from the government have already completed their discussions with political parties on the issue.
There are only two working days left in both Houses.
Prabhu said the Indian industry must prepare itself to take advantage from global mega-trade agreements.
"We must prepare domestically to change our own markets and our own systems, own procedures to take advantage of this emerging opportunities," he added.
He cited example of China as a country that brought changes in its system to join the World Trade Organisation and benefited most even thought it joined the global platform after India.