Union Minister of Commerce and Industry Piyush Goyal on Tuesday said the present global situation and geopolitical uncertainties should be viewed as an opportunity for India to strengthen business processes, undertake faster reforms, build greater resilience and strengthen supply chains.
Addressing the ASSOCHAM India Business Reform Summit 2026 in New Delhi, Goyal called for deeper collaboration between industry and government to advance ease of doing business, enhance India’s competitiveness and accelerate the country’s journey towards Viksit Bharat 2047.
He said businesses should remain alert to both opportunities and risks without panicking. He said India had successfully overcome unpredictable challenges such as COVID-19 and emphasised the need for smarter and more efficient business practices, including reducing waste, improving productivity and adopting energy efficiency measures.
Goyal noted that the lessons learnt during the COVID period had demonstrated the effectiveness of digital engagement and remote working models. Referring to the rapid growth of Global Capability Centres (GCCs) in India, Goyal said around 1,800 GCCs are operating in the country and generating nearly 2 million direct jobs and around 10 million indirect jobs.
He highlighted that India is engaging with the world from a position of strength and noted that the country is a competitive manufacturer of goods and provider of services.
Referring to the Free Trade Agreements (FTAs) covering 38 countries, he said these agreements open doors for greater engagement and stressed that Indian businesses must leverage them for attracting investments and increasing exports rather than allowing imports alone to rise.
Furthermore, Goyal said the government would continue to act as an enabler and referred to the Bhavya initiative and stakeholder consultations regarding the location of 100 new industrial parks. He informed that 20 parks are already at various stages of development.
The minister also said India should focus on increasing exports of more value-added products, including automobiles, auto components, electronics, consumer goods and agro-based value-added products, so that farmers and fishermen benefit from better prices and improved value realisation. He said Indian products should reach global shelves as finished products rather than merely as raw materials.
