New Delhi: Union Minister of Commerce and Industry Piyush Goyal has stressed the need for India to adopt a two-pronged strategy of accessing advanced global technologies while identifying sectors with significant potential for employment and business growth.
Addressing the ‘Dilli Dialogue: Policies for a Future-Ready India’ in New Delhi, the Minister highlighted the importance of creating new opportunities for businesses, startups and young people. He said India aims to strengthen its presence in the global marketplace by encouraging innovation, generating employment and supporting young entrepreneurs.
Goyal said India’s expanding network of Free Trade Agreements (FTAs) would open up new opportunities for domestic businesses and young people. He noted that partnerships with developed economies could benefit both sides, with India offering strengths in textiles, footwear, agriculture and food processing while gaining access to advanced technologies and high-quality electronic equipment.
Emphasising India’s commitment to global engagement and self-reliance, the Minister said the country was not closing its doors to the world but was opening them wider to international collaboration and trade.
Goyal also expressed confidence in India’s ability to achieve its ambitious export targets, including the trillion-dollar export goal. He said setting high national ambitions was essential to the country’s journey towards becoming a developed nation by 2047 under the vision of ‘Viksit Bharat 2047’.
The Minister noted that India had a clear roadmap identifying key sectors that could drive economic growth. He also pointed to the growing demand for goods and services among the country’s 1.4 billion people, stating that rising imports could create opportunities for domestic manufacturers and international investors.
Highlighting the increasing demand for electronics and white goods, Goyal said these sectors offered significant potential for investment in domestic manufacturing, including semiconductor production. Such investments could strengthen India’s industrial capacity, generate employment and support the country’s ambition of becoming a globally competitive manufacturing hub.
