Union Minister of Commerce and Industry Piyush Goyal reaffirmed India’s commitment to equity, balance, and fair trade in Free Trade Agreement (FTA) negotiations during his keynote address at the 27th CITIC CLSA India Forum in Mumbai. According to the Ministry of Commerce and Industry, Goyal emphasised India’s strategic approach to entering FTAs only with countries that uphold transparency, openness, and economic systems in alignment with India’s vision.
Highlighting India’s holistic focus on mutual growth, he stressed that FTAs are crafted to ensure a level playing field for all parties involved. Goyal also reflected on the government’s priorities over the past decade, which centre on providing essential services to every citizen and fostering an environment where ambitions can thrive.
Crediting India’s transformative journey, Goyal spoke about the “4D advantage” comprising democracy, demographic dividend, demand, and decisive leadership under Prime Minister Narendra Modi. He urged investors to recognize India’s unmatched growth potential as the country works toward becoming a developed nation, or “Viksit Bharat,” by 2047.
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Emphasising India’s unique business appeal, he stated, “The delta of opportunity India offers makes it the best business destination for the world.” Addressing skill development concerns, Goyal highlighted the government’s USD 30 billion allocation across five major schemes in Budget 2024, aimed at youth empowerment. He added, “Our focus is on enabling young Indians to tailor their formal education to their aspirations and seamlessly transition into desired vocations.” The minister further projected that Corporate Social Responsibility (CSR) investments in skill development would bolster progress in the coming years.
