Piyush Goyal: India looks for equity, balance, and fair trade in free trade agreements

MUMBAI: Union Minister of Commerce and Industry Piyush Goyal emphasized India’s commitment to equity, balance, and fair trade in Free Trade Agreement (FTA) negotiations during his keynote address at the 27th CITIC CLSA India Forum held in Mumbai on Tuesday evening.

According to the Ministry of Commerce and Industry, highlighting India’s strategic approach, Goyal stated that India enters into FTAs with countries which are transparent, open and where Governments’ economic systems align with India. He underlined that these agreements are designed to promote mutual growth while ensuring a level playing field for all parties involved.

The minister also outlined the government’s priority over the last decade–ensuring basic amenities for all citizens and empowering them to dream bigger. He credited the nation’s transformative journey to the “4D advantage” of democracy, demographic dividend, demand, and decisive leadership under Prime Minister Shri Narendra Modi.

Minister @PiyushGoyal addressed the 27th CITIC CLSA India Forum, centred on the theme ‘Policymaking for Viksit Bharat 2047’.

He highlighted transformative government initiatives and their immense potential to drive the nation’s growth. He also emphasised the country’s strategic… pic.twitter.com/ZOQoNtqkPn

— Piyush Goyal Office (@PiyushGoyalOffc) November 19, 2024

Goyal urged investors to recognize the unparalleled opportunities India offers as it advances toward its goal of becoming a developed nation, or “Viksit Bharat”, by 2047. Goyal noted that the delta of opportunity India provides as it grows towards a Viksit Bharat by 2047 makes it the best business destination for the world.

Addressing questions on skill development, Goyal highlighted the government’s allocation of USD 30 billion across five skill development schemes in the Budget 2024. He outlined the Government’s vision for youth empowerment, stating, “Our focus is on enabling young Indians to curate their formal education according to their aspirations and seamlessly transition into vocations of their choice.”

Goyal stated that in the years to come, the Government’s focus will be on allowing youth to curate their formal education as per their desires and move into a vocation of their choice. CSR spending in skill development will also enhance the progress in the years to come. (ANI)