Whole world seeking to increase trade relations with India: Commerce Minister

Union Minister of Commerce and Industry Piyush Goyal has called for a responsible approach to global trade, urging Indian businesses and citizens to adopt fair trading practices, promote recycling and reuse, and encourage a circular economy while taking Indian products and services to global markets. Further, highlighting India’s growing global economic engagement, he noted that markets have been opened for Indian industry and businesses through nine free trade agreements. He said that international trade now provides India preferential access and highlighted the contribution of Indian MSMEs, employees, fishermen, farmers, entrepreneurs and the services sector in taking Indian products and services to global markets.

He said India’s $4 trillion economy offers a vast opportunity as the country moves towards the vision of becoming a $30 trillion economy by 2047. He further stated that the whole world is seeking to increase trade relations with India and emphasized that such a large growth opportunity requires collective participation from businesses, entrepreneurs and citizens. The Minister said that India’s journey should not only give a label to Make in India but also establish respect for India’s quality, design capabilities and brand. He expressed confidence that Indian products and natural resources would become trusted globally through these collective efforts.

Goyal also said that growth in GDP would naturally lead to higher production and create employment opportunities. He noted that young people returning to India after completing their education or acquiring new skills through skill development centres would bring new solutions to address emerging challenges. He emphasized that the collective efforts of Indian businesses, entrepreneurs, MSMEs, farmers, fishermen and workers would contribute to the country’s growth and help India emerge as a stronger participant in the global economy.