Source: Press Information Bureau (PIB), Government of India — Ministry of Commerce and Industry · PIB Delhi · Read the original release on pib.gov.in
- India confident of achieving export target of $1 trillion and maintaining growth rate above 7 percent: Shri Piyush Goyal
- Shri Piyush Goyal highlights 25 years of uninterrupted public service of Prime Minister Shri Narendra Modi
- India's free trade agreements open up export and investment opportunities while protecting sensitive sectors: Shri Piyush Goyal
- Andhra Pradesh is emerging as an emerging state through technology-driven development and governance: Shri Piyush Goyal
Addressing the preview ceremony of the 31st CII Partnership Summit in New Delhi today, Union Commerce and Industry Minister Shri Piyush Goyal said that “When the world was building walls, India started building bridges.” He said that India recorded exports of $ 863 billion last year and has set a target of exports of $ 1 trillion in the current year. This would be an increase of about 16 percent, while international trade is expected to increase by only 2.5 to 3 percent. The global economy remains vulnerable to shocks and global growth is projected to fall below 3 percent.
Shri Goyal expressed confidence that India will achieve the export target of $1 trillion. He said that this target has been set not only by the government but also by the people and companies of India. This includes 63 million small and medium enterprises, large and small industries, global competence centers and approximately 250,000 startups. He also said that the Reserve Bank of India has once again raised its growth projections for the current year and expressed confidence that India will continue to grow at more than 7 per cent and remain the fastest growing major economy.
Shri Goyal attended the preview ceremony along with the Chief Minister of Andhra Pradesh, Shri Chandrababu Naidu. The partnership summit will be held in Visakhapatnam on 12 and 13 November.
Urging countries to participate in the summit, Shri Goyal said that the event will provide an opportunity to view India's history from the perspective of development, opportunity and partnership. He urged the distinguished guests to send strong delegations from their respective countries to Visakhapatnam and participate in various events, panels, discussions and formal and informal networking opportunities organized by the Partnership Summit.
He urged CII to set up FTA utility desks in each State Council to help MSMEs effectively utilize 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 presentations in the global markets.
Shri Goyal also highlighted the achievement of Prime Minister Shri Narendra Modi completing 25 years as the Head of Government, starting with his tenure as the Chief Minister of Gujarat on 7 October 2001 and continuing as the Prime Minister of India from 26 May 2014. He described it as 25 years of uninterrupted public service and an impeccable track record, aimed at making India a truly powerful nation, restoring the glory enjoyed by India in the past and making India a developed nation by 2047.
Shri Goyal said that 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.
Quoting Bhagavad Gita Chapter 3 Verse 21, Mr Goyal said, "Whatever great leaders do, others follow them. Whatever ideals they set, the world follows them." He said that the country is proud of the service rendered by Shri Narendra Modi in the last 25 years.
Shri Goyal underlined the Prime Minister's focus on reaching the last mile in the area of welfare and good governance. Referring to the Jyotigram scheme of Gujarat, he said that it was the first attempt at that time to provide electricity to every house and every farm and to ensure 24-hour uninterrupted power supply to the industry to promote industrialization.
Shri Goyal also mentioned the JAM trinity of Jan Dhan, Aadhaar and Mobile, through which India has strengthened the connection between the people and the government. He said that Digital India has enabled digital technology and digital connectivity in every corner of India.
Shri Goyal referred to the 10th edition of India Mobile Congress and said that Prime Minister Shri Narendra Modi had reminded that the Digital India movement has resulted in savings to the country of over Rs 5 lakh crore, or more than $55 billion, in the last 12 years.
Shri Goyal said that the Prime Minister has always chosen the path of reform rather than the easy path. He cited the introduction of GST to bring different tax systems under a uniform umbrella across the country and integrating regional power grids into a single national grid as examples of this approach.
Shri Goyal said that despite challenges like COVID-19 and the two ongoing wars the world is facing, India remains the fastest growing large economy in the world. He said that Prime Minister Shri Modi has understood the importance of technology and has demonstrated how technology can serve the public at large. Adoption of modern technology has been the mainstay of his work over the last 25 years.
Mr Goyal said India's approach to relations with developed countries in the past was defensive and it was hesitant to engage with them. This also included the automobile sector and reluctance to open the country to new technologies. He said that today India engages with the world with the confidence of a progressive nation and offers technology, talent, competitiveness and wide market access for its products and services.
He assured that each of the Free Trade Agreements and other agreements entered into by India protects sensitive sectors, especially Indian agriculture, fisheries and small and medium enterprises (MSMEs), as well as opens up opportunities for exports of agricultural products, fisheries and marine products, high precision goods, engineering products and electronic products manufactured by MSMEs. These agreements also open up opportunities for countries and companies to invest in India and participate in the development of the world's largest market.
Shri Goyal said India's economy, which is currently worth about $4 trillion, has the potential to grow to $30 trillion by 2047. He underlined India's young and aspirational population and their desire for a better standard of living for themselves and their families.
On the subject of technology, Shri Goyal said that India does not hold back from new technologies and adopts the best technologies developed globally. He said the country has now moved beyond concerns that new technologies could lead to loss of employment and is now confident that these technologies will create new opportunities for India's talented youth.
He said India will provide its talent and skills to the world by taking advantage of new technologies, improve efficiency and productivity, make Indian goods and services more competitive globally and create opportunities for youth in various fields including cyber security and applications based on emerging technologies. He expressed confidence that Indian industry and the people of India will take advantage of technological advancements to create new opportunities for employment, business and entrepreneurship in the interest of 1.4 billion Indians.
Shri Goyal stressed that India's relationship with the world is based on trust. He said that during the COVID-19 pandemic, even when the global economy was badly affected, India fulfilled every international commitment related to supply of goods or provision of services on time. Even during the strict lockdown, export-oriented units continued to provide services to customers while following social protocols and precautions. Broadband services were delivered to people's homes so that there was no impact on services. Service level agreements signed with global companies were also respected and fulfilled.
Recalling the 2022 G20 Summit held in Rome, Shri Goyal said that global leaders had praised Prime Minister Shri Narendra Modi and described India as a reliable partner of the world. He also mentioned that many credit rating agencies have recently upgraded India's credit rating.
Shri Goyal said Indian industry is focused on staying ahead through cutting-edge technology, making progress in reducing carbon emissions towards sustainable development goals and benefiting from labor reforms. These reforms along with making the industry prosperous also provide facilities for social security, good salaries, wages and better lifestyle to the Indian workers. He said that the Government is continuously working on business facilitation measures, good governance and dialogue between the industry and the government to meet the aspirations and needs of the industry and to be in line with the stringent global standards followed by India.
Referring to the theme of the Partnership Summit, Shri Goyal said that it is very similar to the five ‘T’s (Technology, Trust, Trade, Talent and Tradition) highlighted by him in the 2025 Summit held in Visakhapatnam. He said that these five 'T's' represent strong partnerships and trade, technology, trust and thought leadership are becoming key elements and defining features of India's growth story.
Shri Goyal also highlighted the importance of the Partnership Summit, calling it an opportunity to celebrate India's achievements, present India's growth story to the world and build engagement with countries and delegations across the world.
He said that India will stand with its friends in difficult and challenging times, which reflects the Indian spirit of “Vasudhaiva Kutumbakam” which sees the world as one family.
Shri Goyal congratulated Andhra Pradesh Chief Minister Shri Nara Chandrababu Naidu for technology based development and governance. He described Andhra Pradesh as the “Sunrise State” of the country and said that when the Central and State governments work together as partners, there is progress and greater prosperity for the people of Andhra Pradesh.
Mr Goyal said that Google's first AI hub is being built in Visakhapatnam, where the Partnership Summit will be organised, while Amaravati is being developed as Quantum Valley. He said that Shri Chandrababu Naidu has been continuously focusing on promoting investment and development in Andhra Pradesh and ease of doing business for the welfare and well-being of every individual of the State.
He described it as “Team India at its best”, with the central and state governments working together, with the central government opening up global markets through free trade agreements and other opportunities and Andhra Pradesh converting these opportunities into factories, data centers and jobs. He said that Andhra Pradesh and its people have made India proud with their achievements in the country and across the world. Referring to the discussion on the growing impact of artificial intelligence, quantum computing and technology, he highlighted the contribution the people of Andhra Pradesh have made to the world in their respective professions and through their capabilities in numbers, science, technology and mathematics.
Concluding his address, Shri Goyal said that today's India is aspirational, Indian companies are full of confidence and the country is gaining respect at the global level. He said the commitment of 1.4 billion people is taking India forward. He expressed confidence that the 31st edition of the Partnership Summit will prove to be another important milestone in the growth story of India and Indian industry as the country moves towards becoming a $30 trillion developed nation.
This is the official press release issued by the Press Information Bureau (PIB), and is published without changes.
