MUMBAI — India has signed nine free trade agreements (FTAs) with 38 countries, providing businesses with access to nearly two-thirds of global trade. This was announced by Commerce and Industry Minister Piyush Goyal.
These FTAs will boost Indian products, from goods and services to agricultural and fisheries items, helping them enter new markets and integrate into global value chains. Goyal emphasized that the Aatmanirbhar Bharat initiative aims to create strong and trusted supply chains through global cooperation.
Calling on entrepreneurs and business leaders, Goyal expressed his belief in guiding small businesses, farmers, exporters, and fishermen towards global opportunities. He is confident that the youth of India will navigate the country toward becoming a developed economy by 2047.
Speaking at the EY Entrepreneur Of The Year Awards, Goyal highlighted that India’s growth will be driven by its entrepreneurs and young talent. He urged everyone to work together to achieve the vision of Viksit Bharat, or Developed India.
Goyal also pointed out that India’s youth and human resources are essential to its growth. Through discussions with entrepreneurs, he discovered that innovation and skills are India’s strongest assets.
Regarding Artificial Intelligence, Goyal reassured that rather than eliminating jobs, AI will transform the workforce. India produces around 2.3 million graduates in science, technology, engineering, and mathematics (STEM) each year, providing a rich pool of adaptable talent.
He compared the current moment to the Y2K era, suggesting that AI represents a new pivotal change. This shift is expected to create better opportunities, higher-value jobs, and strengthen exports. There will be an increased demand for professionals in fields like cybersecurity and data protection.
In summary, India’s focus on building a robust, skilled workforce coupled with new trade agreements positions it well for future growth in the global economy. With a younger population eager to innovate, the nation stands at the brink of transformation.
For more insights on India’s trade agreements and economic strategies, you can explore the Ministry of Commerce and Industry website.
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India FTAs, Piyush Goyal
