Union Commerce and Industry Minister Piyush Goyal said that India’s upcoming trade agreements with key global partners will be a major force behind the country’s ambition to become the world’s third-largest economy. Goyal emphasized that these trade deals will significantly boost exports, investments, and employment while strengthening India’s role in global supply chains.
Addressing an industry gathering, Goyal said the government is negotiating trade agreements that are balanced, mutually beneficial, and firmly aligned with India’s national interests. “Our trade deals are designed to empower Indian farmers, MSMEs, startups, and manufacturers, enabling them to compete and succeed in global markets,” Goyal said.
The minister noted that India is among the fastest-growing major economies and is steadily progressing towards its USD 5 trillion economy goal. Strategic agreements with regions such as Europe, the UK, and other major economies will act as growth catalysts and expand market access for Indian products, Goyal added.
Goyal highlighted that the government’s focus is on promoting value-added exports rather than relying on raw material shipments. Flagship initiatives like Make in India, the Production Linked Incentive (PLI) schemes, and reforms to improve ease of doing business are working in tandem with trade negotiations to strengthen domestic manufacturing.
Despite global economic uncertainties, Goyal said India continues to remain a bright spot due to strong domestic demand, policy stability, and a reform-driven growth model. “India is negotiating from a position of confidence, strength, and self-reliance,” Goyal asserted.
Reiterating the government’s commitment to safeguarding sensitive sectors, the minister said trade agreements will be structured to ensure long-term benefits for Indian industry. According to Goyal, these deals will play a decisive role in transforming India into a global manufacturing hub and powering its rise to the world’s third-largest economy in the coming decade.
