Pranav Birje | The News Bulletins
India’s talent, technology and entrepreneurship to drive the next phase of growth
AI, FTAs and youth leadership key to Viksit Bharat vision: Goyal
Mumbai: February 25
Union Minister of Commerce and Industry Piyush Goyal delivered the keynote address while giving away the EY Entrepreneur Of The Year Awards on Wednesday evening in Mumbai at the Jio Convention Centre, bringing together leading entrepreneurs, industry captains and startup founders from across the country.
Addressing the gathering, Goyal underscored that India’s youth and human capital are at the heart of the nation’s growth story. Reflecting on interactions with founders and business leaders, he said passion, innovation and skilled manpower are India’s biggest competitive advantages. Referring to the recently concluded AI Summit in New Delhi, the minister said the global response demonstrated the depth and maturity of India’s innovation ecosystem and technological capabilities.
On concerns around artificial intelligence and employment, Goyal said AI would transform jobs rather than eliminate them. He noted that India produces around 2.3 million STEM graduates every year and possesses an unmatched pool of young, adaptable and ambitious talent. Drawing parallels with the Y2K era, he described AI as the next inflection point that will create better opportunities, higher-value work, stronger exports and deeper global integration for Indian businesses, while also increasing demand for skilled professionals in areas such as cybersecurity, data protection and system governance.
The minister also highlighted India’s expanding global trade footprint, stating that the country has concluded nine Free Trade Agreements covering 38 nations, giving Indian businesses preferential access to nearly two-thirds of global trade. These agreements, he said, will help Indian goods, services, agricultural and fisheries products, and labor-intensive sectors reach new markets, integrate into global value chains and enhance talent mobility.
Emphasising that self-reliance does not mean isolation, Goyal said Atmanirbhar Bharat is about building resilient, trusted and diversified supply chains through global engagement. Calling upon entrepreneurs and industry leaders to take global opportunities to MSMEs, farmers, exporters and fishermen across the country, he expressed confidence that young India will lead the nation through Amrit Kaal towards becoming a developed economy by 2047.
Congratulating the award winners, Goyal said India’s growth journey will continue relentlessly, powered by its entrepreneurs and youth, and urged all stakeholders to work collectively to realise the vision of Viksit Bharat.