Unicaus NEWS
Union Minister Piyush Goyal. File | Photo Credit: ANI
Underscoring the nation’s sturdy efficiency in international commerce regardless of challenges, the Minister mentioned discussions on free commerce agreements (FTAs) had been advancing with a number of nations.
“India’s exports would grow by around 6% this year compared to the corresponding period last year. I believe we will end the year on a positive note,” Mr. Goyal instructed reporters in Mumbai, including that discussions on free commerce agreements (FTAs) had been advancing with a number of nations.
“India’s growing strength and the fact that we will be moving in the Amritkal from a $4 trillion economy to a $30 trillion-plus economy clearly show that India is the place to do business. The world would like to work closer with India,” he added.
The Minister emphasised that India’s home momentum and exterior engagements had been reinforcing one another.
“We have recently come out with the lowest unemployment data at 5.1%,” he mentioned.
Addressing the problem of unemployment, the commerce minister mentioned India is a land of alternatives.
“It may be very attractive to keep saying that there is unemployment. However, when I met Larsen and Toubro, they told me they were unable to complete projects on time because they do not get enough workers. In fact, L&T’s IT company is also looking for people,” the Minister mentioned.
He mentioned India is the fastest-growing giant financial system, and the infrastructure thrust and client demand anticipated from GST 2.0 will give one other increase to funding, job creation, and enlargement of commerce and trade.
Mr. Goyal mentioned a number of nations had been actively pursuing FTAs with India.
“With the European Union, we had good discussions in the last round. Their two commissioners of agriculture and trade visited Delhi, and the discussions made rapid progress. We may have another virtual or physical round soon. EU President Ursula von der Leyen and Prime Minister Narendra Modi guided us to complete the negotiations by year-end, and we are continuing to work towards that goal,” he mentioned.
Citing the profitable free commerce pact with the UAE, the minister mentioned it was the world’s quickest FTA.
“We negotiated, finalised, and signed it in 88 days. Ever since, our exports to the UAE have been growing rapidly. Over 25 lakh Indians live there. I am going for a high-level task force investment dialogue and will meet several investors. Textiles, marine, leather, and pharmaceuticals are particular areas where we are looking for trade expansion and diversification”, he added.
He famous that the UAE was a “gateway for the African region, the Gulf, and Eastern Europe” and a vital buying and selling companion for India.
“There is a lot of investment interest from the UAE into India. I am very confident that this partnership will only strengthen further,” Mr. Goyal added.
The Minister added that related discussions had been underway with Peru, Chile, New Zealand, Oman and others.
“It is an ongoing process. Many countries want to start discussions on FTAs because India has immense potential,” he mentioned.
Published – September 17, 2025 06:55 pm IST
