India built bridges as world built walls, confident of $1 trillion exports: Piyush Goyal

THEBUSINESSBYTES BUREAU

NEW DELHI, OCTOBER 8, 2026

India has adopted an outward-looking approach of building bridges with the world at a time when several countries were putting up walls, Commerce and Industry Minister Piyush Goyal said on Thursday, expressing confidence that the country will achieve its ambitious USD 1 trillion export target this fiscal despite a challenging global trade environment.

Addressing the curtain raiser of the 31st CII Partnership Summit here, Goyal said India clocked USD 863 billion in exports last year and is targeting nearly 16 per cent growth in exports this year, against an expected 2.5-3 per cent expansion in global trade.

"India began building bridges when the world was building walls," Goyal said, underlining the country's growing engagement with global markets through trade, technology, talent and investment.

The minister said the USD 1 trillion export target is not merely a government target but a collective national ambition backed by India's 63 million MSMEs, large and small industries, global capability centres and around 2.5 lakh startups.

Goyal also expressed confidence that India would sustain growth of more than 7 per cent and retain its position as the fastest-growing large economy, noting that the Reserve Bank of India has once again raised its growth projection for the current year.

The CII Partnership Summit, which will be held in Visakhapatnam on November 12-13, will provide an opportunity for countries and businesses to view India's growth story through the prism of growth, opportunity and partnership, he said, urging countries to send strong delegations to the event.

Goyal called upon CII to establish FTA utilisation desks across its state councils to help MSMEs make effective use of free trade agreements, understand rules of origin and new market access opportunities, participate in international delegations and exhibitions, and showcase their products and technologies to global buyers.

Defending India's free trade agreements, the minister said the pacts are structured to protect sensitive sectors, particularly agriculture, fisheries and MSMEs, while creating new opportunities for exports of farm and marine products, engineering goods, high-precision items and electronics.

The agreements, he said, also provide an opportunity for overseas companies to invest in India and participate in the growth of the world's largest market.

Goyal said India has moved from an earlier defensive approach towards globalisation to one marked by confidence, competitiveness and greater willingness to engage with developed economies.

"Today, India engages with the world with the self-confidence of a nation on the move," he said, adding that the country is bringing technology, talent, competitiveness and greater market access for its goods and services to the global table.

The minister pegged India's economy at around USD 4 trillion and said it has the potential to expand to USD 30 trillion by 2047, driven by its youthful and aspirational population and the growing demand for a better quality of life.

He said India is also embracing emerging technologies rather than viewing them primarily as a threat to employment. New-age technologies, he said, would create opportunities for India's young workforce in areas such as cybersecurity and applications built around emerging technologies while improving productivity and global competitiveness.

Goyal said technology would be leveraged to take India's talent and skills to global markets, raise efficiency and productivity and create newer avenues for jobs, businesses and entrepreneurship.

Trust, he said, has emerged as a defining feature of India's engagement with the global economy. During the COVID-19 pandemic, India honoured its international commitments relating to merchandise and services exports even amid stringent lockdowns, while export-oriented units continued to serve global customers by adhering to prescribed safety protocols.

India's commitment to service-level agreements with global companies was also maintained during the crisis, he said, adding that global leaders at the 2022 G20 Summit in Rome had described India as a "trusted partner of the globe".

Goyal also highlighted recent credit rating upgrades received by India, saying these reflected growing confidence in the country's economic fundamentals.

He said Indian industry is focusing on cutting-edge technology, carbon mitigation and sustainability, while labour reforms are helping create an environment in which businesses can grow alongside better wages, social security and amenities for workers.

The government, he said, continues to work on ease of doing business, good governance and sustained dialogue with industry to meet both domestic aspirations and evolving global standards.

Goyal also highlighted Prime Minister Narendra Modi's completion of 25 years of uninterrupted public service, beginning with his tenure as Gujarat chief minister on October 7, 2001, and continuing as prime minister since May 26, 2014.

Describing it as 25 years of "seva", Goyal said Modi has consistently worked towards making India a developed and powerful nation and fulfilling the aspirations of its 1.4 billion people by 2047.

Recalling a verse from the Bhagavad Gita, he said the standards set by a great leader are followed by others, and described Modi's leadership over the past 25 years as an example of leading from the front.

Goyal cited initiatives including the Jyotigram Yojana, the Jan Dhan-Aadhaar-Mobile (JAM) trinity and Digital India as examples of technology-led governance and last-mile delivery.

He also referred to the introduction of the Goods and Services Tax and the integration of regional power grids into a single national grid as examples of reforms that chose structural transformation over the easier path.

Despite the disruptions caused by the COVID-19 pandemic and ongoing geopolitical conflicts, India has continued to remain the world's fastest-growing large economy, he said.

The minister said the five T's of Technology, Trust, Trade, Talent and Tradition, which he highlighted at the 2025 Partnership Summit, remain central to India's growth story.

"Trade, technology, trust and thought leadership are becoming defining features and core elements of India's growth story," he said.

Goyal also praised Andhra Pradesh Chief Minister N Chandrababu Naidu for promoting technology-driven development and governance, describing the state as the country's "sunrise state".

He said the Centre and Andhra Pradesh government working together represented "Team India at its best", with the Centre opening global markets through FTAs and the state converting those opportunities into factories, data centres and jobs.

Google's first AI hub is coming up in Visakhapatnam, while Amaravati is emerging as a quantum valley, Goyal said, highlighting the state's growing focus on artificial intelligence, quantum computing and technology-led investment.

He said Andhra Pradesh's emphasis on ease of doing business, coupled with its pool of talent in science, technology, engineering and mathematics, positions the state strongly to benefit from the next phase of India's technology-led growth.

"India today is aspirational, Indian business is confident and the country is commanding global respect," Goyal said, expressing confidence that the 31st CII Partnership Summit would mark another milestone in India's growth journey towards becoming a USD 30 trillion developed economy by 2047.