Mumbai, February 26: Commerce and Industry Minister Piyush Goyal announced a major boost for Indian businesses, revealing that India has finalized nine Free Trade Agreements (FTAs) with 38 countries. This strategic move grants preferential access to nearly two-thirds of global trade, opening up vast opportunities for exporters.
Speaking at the 27th edition of the EY Entrepreneur of the Year Awards, Goyal highlighted how these agreements will benefit Indian goods, services, agriculture, fisheries, and labor-intensive sectors. ‘These FTAs are a game-changer,’ he said, emphasizing enhanced integration into global value chains and smoother movement of talent.
Goyal redefined ‘Atmanirbhar Bharat’ as building robust, reliable, and diversified supply chains through global connectivity. He urged entrepreneurs and industry leaders to extend these global opportunities to MSMEs, farmers, exporters, and fisherfolk across the nation.
Confidence in India’s youth was palpable as Goyal envisioned them leading the charge towards a developed economy by 2047 during the ‘Amrit Kaal’. He praised the entrepreneurial spirit and young workforce driving India’s growth story.
Addressing AI concerns, Goyal dismissed fears of job losses, stating, ‘AI will transform jobs, not eliminate them.’ With India producing 2.3 million STEM graduates annually, the country is poised to leverage this talent pool for competitive advantage.
Drawing parallels to the Y2K era, he positioned AI as the next big inflection point, promising higher-value work, stronger exports, and global integration. Demand for skills in cybersecurity, data protection, and system governance will surge, he added.
The event saw Goyal presenting awards to top entrepreneurs, industrialists, and startup founders, underscoring India’s vibrant innovation ecosystem.