Union Commerce and Industry Minister Piyush Goyal has said that free trade agreements with several countries have helped to increase the scope of business and investment in the country. Addressing the 98th Annual General Meeting of FICCI in New Delhi today, Mr Goyal said India is in talks with 14 group countries, including the US and the European Union, in this regard. The Minister also called for stronger research and development frameworks and industry participation, stressing that global companies have committed 100 billion dollars worth of investments in India.

The Minister highlighted India's strengths in innovation and technology, supported by a young demographic, increasing digital adoption and a growing talent pool. He said that India's large number of STEM graduates and widespread internet access create strong potential in emerging areas such as applied artificial intelligence, automation, robotics and deep-tech innovation. He noted that the recently announced USD 12 billion Research, Development and Innovation (RDI) fund, along with ongoing support to startups and deep-tech industries, will further accelerate India's innovation ecosystem.

Goyal emphasized the importance of strengthening skilling to prepare India's youth for future opportunities. He said that unlike many developed economies facing ageing populations, India's youthful demographic is quick to adapt to emerging technologies and has already demonstrated high engagement with digital platforms. He added that this readiness positions India to play a major role in the global technology landscape. Highlighting broader global developments, the Minister said that recent geopolitical and economic challenges have underscored the need for trusted partners and resilient supply chains. He stated that India's expanding network of FTAs and economic partnerships is aimed at building long-term cooperation anchored in fairness, transparency and mutual benefit.

Powered by Capital Market - Live News