India’s Trade Reach Expands to Two-Thirds of Global Markets: Piyush Goyal Urges Industry to Focus on Quality

Commending Malabar Charitable Trust’s decision to allocate 5% of net profits to CSR, exceeding statutory norms, the Minister described it as a benchmark for responsible corporate conduct.

India has significantly expanded its global trade footprint, signing nine Free Trade Agreements (FTAs) with 38 developed nations, providing preferential access to nearly two-thirds of global trade, Union Commerce and Industry Minister Shri Piyush Goyal said on Wednesday.

Speaking at the National CSR Announcement for FY 2026–27 and Scholarship Distribution launch by Malabar Charitable Trust, the Minister highlighted that these agreements are opening new global opportunities for Indian exporters, particularly across MSMEs, agriculture, and traditional sectors.

FTA Network Unlocks Global Markets for India

Shri Goyal emphasised that India’s recent trade agreements have:

• Enabled reduced or zero-duty access to major global markets

• Enhanced competitiveness of Indian goods and services

• Created opportunities for MSMEs, farmers, fishermen, and artisans

However, he stressed that quality remains the key differentiator.

“Indian industry must focus on high-quality production and services to fully leverage these global opportunities,” he said.

CSR Beyond Compliance: A Model for Corporate India

Commending Malabar Charitable Trust’s decision to allocate 5% of net profits to CSR, exceeding statutory norms, the Minister described it as a benchmark for responsible corporate conduct.

• Highlighted the importance of moving from pledges to actual delivery

• Noted that voluntary contributions reflect genuine social commitment

• Encouraged more companies to go beyond mandated CSR levels

Scholarships to Benefit 33,000 Children

The initiative will support 33,000 children through scholarships and welfare programmes, contributing to:

• Education access

• Nutritional support

• Broader social development outcomes

Shri Goyal termed such initiatives as vital for inclusive growth and opportunity creation.

Women-Led Development at the Core

Reinforcing the importance of gender inclusion, the Minister cited Dr. B.R. Ambedkar’s vision that societies progress when women are empowered.

He noted that under Prime Minister Narendra Modi’s leadership, efforts have focused on:

• Expanding girls’ education

• Promoting women’s participation in the economy

• Enabling equal opportunities for growth

Inclusive Growth and Basic Services for All

The Minister reiterated the government’s commitment to ensuring universal access to essential services, including:

• Food and housing

• Healthcare and education

• Electricity, water, and digital connectivity

These efforts are aimed at enabling every citizen to actively contribute to the vision of ‘Viksit Bharat 2047’.

Call for Collective National Effort

Shri Goyal urged stakeholders to adopt a whole-of-society approach to development:

• Citizens should be viewed as contributors, not beneficiaries

• Emphasised unity and collaboration, drawing lessons from the COVID-19 response

• Called for transcending differences to work towards a shared national goal

Focus on Skills and Global Competitiveness

Highlighting the importance of human capital, the Minister stressed:

• Need for skill development and capacity building

• Importance of language training and quality education

• Preparing youth to seize global employment opportunities

India Staying Resilient Amid Global Uncertainty

Despite global disruptions in trade and logistics due to geopolitical tensions, Shri Goyal reaffirmed that India remains committed to:

• Expanding international trade partnerships

• Strengthening economic engagement globally

Towards a Globally Competitive, Inclusive India

The Minister expressed confidence that a combination of strong trade policy, corporate responsibility, and inclusive development initiatives will help India:

• Expand its global economic footprint

• Empower its workforce and entrepreneurs

• Build a resilient and equitable growth model