Piyush Goyal Urges Industry to Leverage FTAs with Focus on Quality

Spirit of Voluntary Charity Integral to Indian Ethos: Shri Piyush Goyal

Inclusive Development and Collective Effort Key to Viksit Bharat 2047: Shri Goyal

Union Minister of Commerce and Industry, Shri Piyush Goyal, said that in the last few years India has entered into nine free trade agreements with 38 developed nations, covering many of the world’s advanced economies. He noted that these agreements provide preferential market access to nearly two-thirds of global trade and emphasised that Indian industry, farmers, MSMEs and artisans must leverage these opportunities through a strong focus on quality.

Addressing the National CSR Announcement for FY 2026–27 and Scholarship Distribution launch by Malabar Charitable Trust in New Delhi today, the Minister noted that these agreements have opened up global markets for Indian goods and services at reduced or zero duty, giving Indian exporters a competitive advantage. He highlighted that sectors including MSMEs, farmers, fishermen, and artisans stand to benefit significantly from this expanded market access, provided there is a continued emphasis on high-quality production and services.

Shri Goyal also commended the commitment of allocating 5% of net profits towards corporate social responsibility (CSR), describing it as a significant step that goes beyond statutory requirements and sets an example for others to follow. He said it is truly remarkable to see the commitment with which corporate social responsibility has been taken up by the group, and expressed confidence that it would serve as a role model for many others.

Shri Goyal observed that the spirit of charity is deeply embedded in the ethos of Indian society, where individuals across all sections instinctively come forward to help those in need. He added that while the CSR framework has contributed to increasing participation, initiatives that go beyond mandated levels reflect a genuine commitment to social responsibility.

Highlighting the significance of the initiative, the Minister noted that such efforts validate the belief that organisations can voluntarily go beyond prescribed norms and contribute meaningfully to society. He also referred to instances where CSR commitments are often announced as future pledges, while emphasising the importance of current and tangible delivery.

Shri Goyal underscored the importance of women-led development, recalling that Bharat Ratna Dr. B.R. Ambedkar had emphasised that communities prosper when women prosper. He highlighted that under the leadership of Prime Minister Shri Narendra Modi, sustained efforts have been made to promote education and empowerment of girls, with a vision that every girl should have the opportunity to contribute to the nation’s development.

Emphasising inclusive development, the Minister stated that every citizen is capable and deserving of opportunity, and that the government is committed to ensuring access to basic necessities such as food, housing, healthcare, education, electricity, water and digital connectivity for all. He noted that such efforts are aimed at enabling every individual to participate in the journey towards a developed India.

He called upon all stakeholders to view citizens as contributors to the vision of Viksit Bharat 2047 and emphasised the importance of unity and collective effort. Referring to the spirit of solidarity witnessed during times of crisis such as the COVID-19 pandemic, he highlighted the need to transcend differences and work together as one nation.

The Minister also noted that despite global challenges, including ongoing conflicts impacting trade and logistics, India remains focused on strengthening its economic engagement.

Shri Goyal highlighted the importance of skilling and capacity building, including language training and quality education, to enhance global opportunities for India’s youth. He noted that initiatives supporting education, nutrition and social welfare contribute significantly to the country’s development journey.

Commending the efforts of all stakeholders involved, the Minister expressed confidence that such initiatives would encourage broader participation in social development and help expand opportunities for those who have not yet had access to them. He extended his best wishes for the success of the initiative and for the 33,000 children who will receive benefits and scholarships under the programme.