Union Minister of Commerce and Industry Shri Piyush Goyal addressed the curtain raiser of the Invest Telangana Global Summit in New Delhi, where he discussed India’s trade partnerships, economic growth, and the development roadmap for Telangana.
Highlighting India’s trade expansion, Shri Goyal stated that the country’s existing free trade agreements provide preferential market access to a global GDP of $70 trillion, which will expand to 76 percent of global GDP once ongoing negotiations are finalized. He noted India’s target of achieving $1 trillion in exports with 15 percent growth in the current year, supported by stable policies and supply chain resilience.
To support Telangana’s ambition of growing into a $3 trillion economy by 2047, Shri Goyal suggested setting up district-level FTA help desks, promoting global exports of GI-tagged products like Tandur red gram, and moving the state’s pharmaceutical sector up the value chain toward innovation and biosimilars. He also emphasized the importance of accelerating ease-of-doing-business reforms and strengthening industry-academia linkages.
Source
Press Information Bureau, Government of India, “Union Minister of Commerce and Industry, Shri Piyush Goyal Calls for Greater FTA Utilisation by Telangana”. Read the original release.
Summary of an official release for general information only. Not investment advice. Read the original source before acting on any information.
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