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These agreements provide Indian businesses with preferential access to nearly two-thirds of global trade. He added that these agreements will open new markets for Indian goods, services, agricultural and fisheries products, as well as labor-intensive sectors.
Integration with Global Value Chains
Goyal emphasized that these agreements will help India better integrate into global value chains and enhance the mobility of talent. He clarified that ‘Atmanirbhar Bharat’ (self-reliant India) means building strong, reliable and diversified supply chains while staying globally connected.
High Expectations from MSMEs and Youth
Goyal appealed to entrepreneurs and industry leaders to extend global opportunities to MSMEs, farmers, exporters and fishermen across the country. He expressed confidence that the youth of India will play a leading role in making the country a developed economy by 2047, during the nation’s ‘Amrit Kaal’ phase.
Entrepreneurs as Drivers of Development
Delivering the keynote address at the 27th EY Entrepreneur of the Year Awards in Mumbai, Goyal said that India’s development journey is progressing steadily, driven by the country’s entrepreneurs and youth power. He urged all stakeholders to work together to achieve the goal of a developed India.
Innovation and Human Resources as India’s Strength
Goyal highlighted that India’s young talent and human resources are at the center of the country’s development story. Referring to discussions with startup founders and industry leaders, he said that passion, innovation and skilled human resources are India’s greatest competitive strengths.
AI to Transform Employment
Addressing concerns about artificial intelligence (AI) and employment, Goyal said that AI will not eliminate jobs but will change their nature. India produces approximately 2.3 million STEM graduates annually and the country has a large pool of young, adaptable and ambitious talent.
AI as the Next Major Opportunity
Goyal stated that AI will be the next major turning point, offering Indian businesses better opportunities, higher-value work, stronger exports and enhanced global integration. He added that there will also be an increased demand for skilled professionals in areas such as cybersecurity, data protection and system governance.
