Union Commerce and Industry Minister Piyush Goyal unveiled India’s latest trade milestone—nine Free Trade Agreements spanning 38 countries, affording Indian businesses preferential access to nearly 66% of global trade volume. This key announcement came at the 27th EY Entrepreneur of the Year Awards in Mumbai.
The FTAs open fresh avenues for exports of merchandise, services, agri-products, marine goods, and labor-centric industries, while strengthening global value chain participation and talent flows.
Interpreting ‘Atmanirbhar Bharat’ as globally-linked resilient supply frameworks, Goyal implored business honchos to cascade opportunities to MSMEs, agriculturalists, exporters, and fisherfolk nationwide.
Bullish on demographics, Goyal forecasted India’s youth leading the ‘Amrit Kaal’ charge to economic superpower status by 2047. The synergy of entrepreneurship and youthful vigor fuels this ascent.
Countering AI anxieties, he posited that automation augments rather than supplants jobs. India’s production of 23 lakh STEM talents yearly equips it for AI-driven growth.
Likening AI to Y2K’s paradigm shift, Goyal anticipated enhanced business prospects, export momentum, global synergy, and burgeoning needs in cyber safeguards, data stewardship, and tech governance.
The gala featured Goyal distributing honors to eminent entrepreneurs, industrial leaders, and startup trailblazers from across India.