India Confident of Achieving USD 1 Trillion Export Target, Sustaining Over 7% Growth: Shri Piyush Goyal

Shri Piyush Goyal Highlights Prime Minister Shri Narendra Modi’s 25 Years of Uninterrupted Public Service

India’s FTAs Protect Sensitive Sectors While Opening Export and Investment Opportunities: Shri Piyush Goyal

Andhra Pradesh Emerging as a Sunrise State Through Technology-Driven Development and Governance: Shri Piyush Goyal

Union Minister of Commerce and Industry Shri Piyush Goyal today said that “India began building bridges when the world was building walls” while addressing the curtain raiser of the 31st CII Partnership Summit in New Delhi. He noted that India recorded USD 863 billion in exports last year and has set itself the target of achieving USD 1 trillion in exports in the current year. This would represent nearly 16 per cent growth in a year when international trade is expected to grow by only around 2.5 to 3 per cent, while the global economy remains vulnerable to shocks and global growth is expected to fall below 3 per cent.

Shri Goyal expressed confidence that India would achieve the USD 1 trillion export target, noting that the target has been set not merely by the government but by the people and businesses of India, including 63 million MSMEs, large and small industries, global capability centres and around 250,000 startups. He also said that the Reserve Bank of India had once again raised its growth projections for the current year and expressed confidence that India would continue to grow at over 7 per cent and remain the fastest-growing large economy.

The Minister attended the curtain raiser along with Chief Minister of Andhra Pradesh Shri Chandrababu Naidu. The Partnership Summit will be held in Visakhapatnam on 12th and 13th November.

Urging countries to participate in the Summit, Shri Goyal said the event would provide an opportunity to look at the India story through the lens of growth, opportunity and partnership. He urged the distinguished guests to ensure that their countries send strong delegations to Visakhapatnam and participate in the various programmes, panels, discussions and formal and informal networking opportunities offered by the Partnership Summit.

He urged CII to establish FTA utilisation desks across every State Council to help MSMEs effectively use Free Trade Agreements, understand new market access opportunities and rules of origin, join delegations, participate in exhibitions and conferences, and showcase their products, technologies and offerings to global markets.

The Minister also highlighted the milestone of Prime Minister Shri Narendra Modi completing 25 years as head of government, beginning with his tenure as Chief Minister of Gujarat from 7th October 2001 and continuing as Prime Minister of India since 26th May 2014. He described this as 25 years of uninterrupted public service and an unblemished track record aimed at making India a truly powerful nation, restoring the glory India had once enjoyed and making India a developed nation by 2047.

Shri Goyal said the collective commitment of 1.4 billion Indians is being taken forward by the Prime Minister towards the mission of making India a developed nation by 2047 and fulfilling the dreams and aspirations of every child born in the country.

Recalling a shloka from Chapter 3, Verse 21 of the Bhagavad Gita, Shri Goyal said, “Whatever a great leader does, others follow. Whatever standard he sets, the world pursues.” He said the country is proud of the 25 years of seva, or service, led from the front by the Prime Minister.

He highlighted the Prime Minister’s focus on reaching the last mile in welfare and good governance, referring to the Jyotigram Yojana in Gujarat, which he said was the first effort at that point of time to take electricity to every home and every farm and ensure 24-hour uninterrupted power for industry to promote industrialisation.

Shri Goyal also referred to the JAM trinity of Jan Dhan, Aadhaar and Mobile, through which India strengthened the connect between people and government, and to Digital India, which enabled digital technology and digital connectivity across the length and breadth of India.

Referring to the 10th edition of the India Mobile Congress, Shri Goyal said Prime Minister Shri Narendra Modi had recalled that the Digital India movement had resulted in savings of over Rs. 5 lakh crore, or over USD 55 billion, for the nation over the last 12 years.

The Minister said that the Prime Minister has consistently chosen reform over the easy path. He cited the introduction of GST to bring different tax systems across the country under one umbrella and the integration of regional power grids into one national grid as examples of this approach.

He said that despite the challenges posed by COVID-19 and the two wars with which the world is grappling, India has continued to remain the world’s fastest-growing large economy. He said Prime Minister Modi has understood the value of technology and demonstrated how technology can serve people at large, with the adoption of modern technology serving as the mainstay and backbone of his work over the last 25 years.

Shri Goyal said that India had earlier been defensive in its approach and hesitant to engage with the developed world, including being unwilling to open up the automobile sector and the country to new technologies. Today, he said, India engages with the world with the self-confidence of a nation on the move, bringing to the table technology, talent, competitiveness and greater market access for its goods and services.

He assured that every free trade agreement and other agreement entered into by India protects sensitive sectors, particularly Indian agriculture, fishermen and MSMEs, while opening up opportunities for exports of agricultural products, fisheries and marine products, high-precision items, engineering products and electronic products made by MSMEs. These agreements also open investment opportunities for countries and companies to come to India and participate in the growth of the world’s largest market.

Shri Goyal said India’s economy, currently around USD 4 trillion, has the potential to grow to USD 30 trillion by 2047. He highlighted India’s youthful and aspirational population and its desire for a better quality of life for itself and its families.

On technology, the Minister said India does not shy away from new-age technologies and adopts the best-of-class global technology developments. He said the country has moved beyond concerns that new technologies could lead to job losses and now has the courage of conviction that these technologies will create new opportunities for India’s talented youth.

He said India would leverage new technologies to offer its talent and skills to the world, improve efficiency and productivity, make Indian goods and services more competitive globally, and create opportunities for youth in areas including cyber security and applications built around emerging technologies. He expressed confidence that Indian industry and the people of India would leverage technological upgradation to the advantage of 1.4 billion Indians by opening newer opportunities in jobs, business and entrepreneurship.

The Minister emphasised that trust is a defining element of India’s engagement with the world. He said that during the COVID-19 pandemic, when the global economy was severely disrupted, India met every international commitment on time, whether relating to the supply of merchandise or provision of services. Even during the strictest lockdowns, export-oriented units continued serving customers while following social protocols and precautions, while broadband services were moved into people’s homes to ensure that services were not affected. Service Level Agreements signed with global companies were also respected and met.

Recalling the 2022 G20 Summit in Rome, Shri Goyal said global leaders had complimented Prime Minister Shri Narendra Modi by describing India as a trusted partner of the globe. He also noted that India had recently seen credit rating upgrades from several credit rating agencies.

The Minister said Indian industry is focused on remaining ahead through cutting-edge technology, progressing on carbon mitigation towards sustainability goals and benefiting from labour reforms that enable industry to prosper while providing Indian labour with social security, good salaries, wages and amenities for a better lifestyle. He said the government is continuously working on ease of doing business measures, good governance and dialogue between industry and government to meet the aspirations and needs of industry and the exacting global standards that India is now willing to adopt and engage with.

Referring to the theme of the Partnership Summit, Shri Goyal said it closely resonates with the five T’s he had highlighted at the 2025 Summit in Visakhapatnam: Technology, Trust, Trade, Talent and Tradition. He said these five T’s reflect great partnerships and that trade, technology, trust and thought leadership are becoming defining features and core elements of India’s growth story.

Shri Goyal also highlighted the significance of the Partnership Summit as an occasion to celebrate India’s achievements, present India’s growth story to the world and build bridges with countries and delegations from around the world.

The Minister said India would stand by its friends through testing and difficult times, reflecting the Indian ethos of “Vasudhaiva Kutumbakam”, under which the world is viewed as one family.

Shri Goyal also complimented Andhra Pradesh Chief Minister Shri Nara Chandrababu Naidu for technology-driven development and governance in Andhra Pradesh. He described Andhra Pradesh as the “sunrise state” of the country and said that when the Central and State Governments work together as partners, the people progress and there is greater prosperity for the people of Andhra Pradesh.

Shri Goyal said Google’s first AI hub is coming up in Visakhapatnam, where the Partnership Summit will be held, while Amaravati is becoming a quantum valley. He said Shri Chandrababu Naidu continues to focus on ease of doing business to promote investments and growth in Andhra Pradesh and the well-being and welfare of every person in the State.

He described this as “Team India at its best”, with the Centre and State working together, the Central Government opening global markets through free trade agreements and other opportunities, and Andhra Pradesh converting these opportunities into factories, data centres and jobs. He said Andhra Pradesh and its people have made India proud through their achievements at home and across the world. Referring to the discussion on AI, quantum computing and the growing influence of technology, he highlighted the contribution of people from Andhra Pradesh across the world in their chosen professions and their abilities in numbers and science, technology and mathematics.

Shri Goyal concluded by saying that India today is aspirational, Indian business is confident and the country is commanding global respect.  He said the commitment of 1.4 billion people drives India and expressed confidence that the 31st edition of the Partnership Summit would be another milestone in India’s and Indian industry’s growth story as the country powers towards becoming a USD 30 trillion developed nation.