In a landmark revelation, Union Minister Piyush Goyal disclosed that India has inked nine Free Trade Agreements covering 38 nations, unlocking doors to approximately two-thirds of world commerce with preferential terms. This was shared during his keynote at the prestigious EY Entrepreneur of the Year Awards in Mumbai.
These pacts promise new markets for Indian products, services, farm produce, seafood, and labor-heavy industries. Goyal stressed that they will fortify India’s links to international supply networks and facilitate talent exchange.
‘Atmanirbhar Bharat means self-reliance intertwined with global partnerships for resilient supply chains,’ Goyal articulated. He called on business leaders to democratize these opportunities, reaching every MSME, farmer, exporter, and fisherman in the country.
Goyal expressed optimism about India’s youthful demographic spearheading the journey to a $30 trillion economy by 2047. The nation’s entrepreneurs and dynamic youth are the engines of this progress, he noted.
On the AI-job debate, Goyal was reassuring: technology evolves roles rather than erasing them. India’s annual output of 23 lakh STEM graduates positions it perfectly to harness AI’s potential.
Comparing it to past tech shifts like Y2K, Goyal forecasted AI ushering in premium opportunities, export growth, and deeper global ties. Emerging fields like cyber defense and data governance will create high-demand jobs.
The awards ceremony celebrated India’s startup innovators, with Goyal honoring outstanding contributors in the presence of industry stalwarts.