New Delhi, Aug 25: Union Commerce and Industry Minister Piyush Goyal has called for stronger participation from Indian businesses, entrepreneurs, MSMEs and citizens to expand India's global trade presence and support the country's vision of becoming a $30 trillion economy by 2047.
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Addressing the inaugural ceremony of the Bharatiya Vyapar Mahotsav at Bharat Mandapam, Goyal said India's growing engagement with global markets is creating new opportunities for Indian companies to increase exports, build international partnerships and expand their presence worldwide.
The Minister said nine free trade agreements have opened new markets for Indian businesses and provided greater opportunities for Indian products and services. He urged companies to make full use of these trade partnerships and move beyond traditional markets.
Goyal said India's economy, currently around $4 trillion, has significant growth potential and that achieving the $30 trillion target will require collective participation from businesses, entrepreneurs, workers, farmers, MSMEs and consumers.
He highlighted the growth in India's exports and said the country is targeting $1 trillion in exports in the current year. He also stressed the need to strengthen India's position in global markets by improving product quality, design, innovation and manufacturing standards.
The Minister called for greater efforts to strengthen the Make in India brand, saying Indian products should gain global recognition for quality, reliability and design rather than simply carry a country-of-origin label.
Goyal also urged Indian businesses to adopt digital technologies, follow fair trading practices and improve manufacturing processes. He called for greater focus on recycling, reuse and the circular economy to ensure that India's economic growth remains sustainable.
He said initiatives such as Digital India, Startup India and Stand-Up India, along with large-scale infrastructure development, have helped create a stronger environment for businesses and entrepreneurs.
The Minister encouraged Indian companies to expand into international markets and build stronger partnerships with global businesses. He said increased production and exports would create economies of scale, improve competitiveness and generate more employment opportunities.
Goyal said India's young workforce, entrepreneurs, MSMEs, farmers, fishermen and workers are important contributors to the country's economic growth and can help turn emerging challenges into new opportunities.
He called for a collective effort to make Indian products and services globally trusted and competitive, saying stronger trade, investment, innovation and business partnerships would be key to India's journey towards becoming a $30 trillion economy by 2047.
