India Concludes 9 Ftas, Gives Businesses More Access To Global Trade: Piyush Goyal

RunWithRugs · 2026-02-26T04:26:16+00:00

India has signed nine free trade agreements, enhancing market access for businesses. Commerce Minister Piyush Goyal emphasized the role of youth and innovation in driving growth, addressing concerns about AI transforming jobs. He encouraged collaboration to achieve a developed economy by 2047.

RunWithRugs

2026-02-26 04:26:16

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(MENAFN- IANS) Mumbai, Feb 26 (IANS) The country has concluded nine free trade agreements (FTAs) covering 38 nations, giving Indian businesses preferential access to nearly two-thirds of global trade, according to Commerce and Industry Minister Piyush Goyal.

These agreements will help Indian goods, services, agricultural and fisheries products, and labour-intensive sectors reach new markets, integrate into global value chains and enhance talent mobility, he further stated.

Goyal said that Aatmanirbhar Bharat is about building resilient, trusted and diversified supply chains through global engagement.

Calling upon entrepreneurs and industry leaders to take global opportunities to MSMEs, farmers, exporters and fishermen across the country, Goyal expressed confidence that young India will lead the nation through ‘Amrit Kaal’ towards becoming a developed economy by 2047.

Delivering the keynote address at the 27th edition of the ‘EY Entrepreneur Of The Year Awards’ in Mumbai, he said India’s growth journey will continue relentlessly, powered by its entrepreneurs and youth, and urged all stakeholders to work collectively to realise the vision of Viksit Bharat.

Goyal underscored that India’s youth and human capital are at the heart of the nation’s growth story.

Reflecting on interactions with founders and business leaders, the minister said that passion, innovation and skilled manpower are India’s biggest competitive advantages.

On concerns around Artificial Intelligence and employment, Goyal said that AI would transform jobs rather than eliminate them.

He noted that India produces around 2.3 million STEM graduates every year and possesses an unmatched pool of young, adaptable and ambitious talent.

Drawing parallels with the Y2K era, he described AI as the next inflection point that will create better opportunities, higher-value work, stronger exports and deeper global integration for Indian businesses, while also increasing demand for skilled professionals in areas such as cybersecurity, data protection and system governance.

He also gave away the awards in the programme that brought together leading entrepreneurs, industry captains and startup founders from across the country.

-IANS

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