Mumbai: Union Commerce and Industry Minister Piyush Goyal said India has successfully concluded nine Free Trade Agreements (FTAs) with 38 countries, providing Indian businesses preferential access to nearly two-thirds of global trade.
Speaking at the 27th edition of the EY Entrepreneur of the Year Awards in Mumbai, the minister emphasized that these agreements will open new markets for Indian goods, services, agriculture, fisheries, and labour-intensive sectors.
Stronger Integration with Global Value Chains
Goyal highlighted that the FTAs will enhance India’s integration into global value chains and facilitate greater mobility of talent.
He clarified that Atmanirbhar Bharat does not mean isolation but building strong, reliable, and diversified supply chains while remaining deeply connected to global markets.
MSMEs, Farmers and Youth to Benefit
The minister urged entrepreneurs and industry leaders to ensure that global trade opportunities reach MSMEs, farmers, exporters, and fishermen across the country.
He expressed confidence that India’s youth will play a leading role in transforming the nation into a developed economy by 2047 during the Amrit Kaal period.
Entrepreneurs Driving India’s Growth Story
Addressing leading entrepreneurs and startup founders, Piyush Goyal said India’s growth momentum is being powered by its entrepreneurial spirit and dynamic young population.
He called upon all stakeholders to work collectively toward achieving the goal of Viksit Bharat 2047.
Innovation and Human Capital as Competitive Edge
Goyal described India’s young workforce and skilled human capital as central to the country’s development journey.
He noted that innovation, passion, and a capable talent pool are India’s biggest competitive advantages in the global marketplace.
AI to Transform, Not Replace Jobs
Addressing concerns around Artificial Intelligence (AI), the minister stated that AI will not eliminate jobs but will transform their nature.
India produces approximately 2.3 million STEM graduates annually, giving the country a strong base of young, adaptable, and ambitious talent.
AI as the Next Big Opportunity
Drawing parallels with the Y2K era, Goyal said AI represents the next major inflection point for Indian businesses.
He said AI will create higher-value work, boost exports, and strengthen global integration. Additionally, demand for skilled professionals in cybersecurity, data protection, and system governance is expected to rise significantly.
Awards Presented to Leading Entrepreneurs
During the event, the minister also presented awards to leading entrepreneurs, industrialists, and startup founders from across India, recognizing their contribution to the nation’s economic growth.
With expanding FTAs, rising innovation, and strong youth participation, India is positioning itself as a key player in global trade and emerging technologies.
