New Delhi, Oct 10 (SocialNews.XYZ) Commerce and Industry Minister Piyush Goyal on Saturday said that trade agreements can create opportunities for Indian businesses to access new markets, diversify exports and strengthen integration with global supply chains.
Addressing the 121st annual session of the PHD Chamber of Commerce and Industry (PHDCCI) here, the minister said the signing of the India–UK Comprehensive Economic and Trade Agreement marks an important development in India’s trade engagement with the United Kingdom.
India’s ongoing and prospective trade negotiations, including engagement with Canada, reflect the broader objective of expanding market access and establishing mutually beneficial economic partnerships.
Such agreements must translate into tangible opportunities for Indian industry, exporters, farmers and MSMEs while taking account of the interests of domestic stakeholders, said the minister.
Goyal stressed the importance of consultations with MSMEs, farmers, industry representatives, and other stakeholders in shaping trade and development priorities.
Their participation is essential to ensure that the benefits of international trade reach businesses of different sizes, support employment generation, and strengthen domestic productive capacity.
“India’s aspiration to become a $10 trillion economy will require sustained investment, higher productivity, technological advancement, innovation and a competitive manufacturing and services ecosystem. Achieving this ambition will depend on expanding productive capacity, improving the ease of doing business, strengthening infrastructure and enabling enterprises to scale up,” the minister emphasised.
He highlighted export expansion as a central component of this growth trajectory. Building on India’s export performance in recent years, the country aims to increase its global market share, diversify its export basket and strengthen the competitiveness of Indian products and services.
India’s stated ambition of reaching $1 trillion in exports in FY 2026–27, with a targeted growth rate of 15 per cent, underscores the importance of market diversification, quality improvement, reliable delivery, technology adoption and stronger participation in global value chains.
Progress towards this objective will require coordinated efforts by the government, industry, exporters and trade-support institutions, he said.
—IANS
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Source: IANS
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