- Nine free trade agreements have opened new market opportunities for Indian businesses.
- Goyal urged firms to adopt fair trade, recycling and circular-economy practices.
- He called for taking “Make in India” products and services from local to global markets.
- India is targeting a $30 trillion economy by 2047, he said.
GG News Bureau
New Delhi, 13th Aug: Union Commerce and Industry Minister Piyush Goyal on Wednesday called on Indian businesses and citizens to adopt fair trading practices, promote recycling and reuse, and take Indian products and services from local to global markets.
Addressing the inaugural ceremony of the Bharatiya Vyapar Mahotsav at Bharat Mandapam in New Delhi, Goyal said nine free trade agreements have opened new market opportunities for Indian industry and businesses by providing preferential access to international markets.
The Minister said India’s current economic size of around $4 trillion presents a major opportunity as the country works towards becoming a $30 trillion economy by 2047. He said global interest in strengthening trade relations with India is creating significant opportunities for businesses, entrepreneurs and other stakeholders.
Goyal called for collective efforts to strengthen the Make in India brand by ensuring quality, design excellence and strong branding. He urged Indian businesses to move beyond limited domestic markets and take locally produced goods and services to global consumers.
Focus on Exports and Global Markets
The Minister highlighted the contribution of MSMEs, farmers, fishermen, workers, entrepreneurs and the services sector in expanding India’s presence in international markets.
He said India’s goods and services exports had reached a record level of 863 trillion dollars last year, comprising 442 trillion dollars in merchandise exports and 421 trillion dollars in services exports, according to the statement. He said exports had grown by around 73 per cent over six years, with the current-year target set at 1 trillion dollars.
Goyal further said exports recorded nearly 15 per cent growth during the first four months from April to July.
He also emphasised that greater domestic participation in Indian products could boost production, expand trade, create economies of scale and improve the competitiveness of Indian businesses.
Call for Fair and Sustainable Business
Goyal urged businesses and entrepreneurs to digitise their operations, adopt good manufacturing practices and follow fair trading practices.
Highlighting the importance of sustainability amid climate change, he called for greater focus on recycling, reuse and the circular economy.
The Minister said self-reliance and national development must progress together and highlighted initiatives including Digital India, Startup India and Stand-Up India, along with infrastructure development, as measures that have strengthened opportunities for industry and youth.
He said India’s development journey requires participation from businesses, MSMEs, startups, farmers, fishermen, workers and entrepreneurs.
Goyal expressed confidence that collective efforts to improve quality, design and manufacturing capabilities would help Indian products and services gain greater trust and recognition in global markets.
