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India's FTAs Boost Startup Confidence & Global Expansion, Says Piyush Goyal

Commerce Minister Piyush Goyal stated that India's recent free trade agreements with developed economies provide significant opportunities for startups by creating investor certainty and opening new markets. He encouraged startups to pursue international collaborations to attract investment and expand globally, highlighting sectors like services, mobility, and renewable energy. Goyal identified tourism and skill development as high-growth areas and emphasized integrating technology, especially to reach rural populations. He also announced that a second Rs 10,000-crore Startup Fund of Funds will support deep-tech startups at critical early growth stages.

Key Points: Piyush Goyal: FTAs Boost Indian Startups, Global Opportunities

  • FTAs boost startup confidence
  • Explore global collaborations
  • Focus on tourism & skill development
  • Deep-tech fund of Rs 10,000 crore
2 min read

Trade pacts with developed economies to boost startups and entrepreneurs: Piyush Goyal

Commerce Minister Piyush Goyal says India's FTAs with developed economies open new markets and boost confidence for startups and entrepreneurs.

"These trade agreements create certainty and confidence for investors while opening new markets for Indian goods and services. - Piyush Goyal"

New Delhi, Jan 16

Commerce and Industry Minister Piyush Goyal on Friday said that India's recent free trade agreements with developed economies provide significant opportunities for startups and entrepreneurs.

Addressing the 'Startup Pe Charcha' interaction at Bharat Mandapam here, the minister said that these trade agreements create certainty and confidence for investors while opening new markets for Indian goods and services.

He encouraged startups to explore startup-to-startup collaborations and partnerships with countries abroad to attract investment and expand globally, highlighting opportunities across services, mobility, payments, sustainability, renewable energy and advanced technologies.

The minister highlighted that one of the most visible transformations in a resurgent and new India is the growing self-confidence among the country's youth.

He noted that young Indians today are increasingly willing to take risks, pursue entrepreneurship and experiment with ideas, marking a significant shift from earlier hesitations around career choices.

Goyal said that this self-confidence reflects a fundamental change in India's mindset towards innovation and future-ready growth.

During the interaction, Goyal engaged with several founders and achievers present at the event.

Responding to a question on sectors with high growth potential, the Minister identified tourism and skill development as areas offering significant opportunities, both in terms of national requirements and entrepreneurial success.

He emphasised the need to integrate technology into these sectors to reach wider sections of the population, particularly in rural areas. He also underlined the importance of training, re-training and re-skilling to prepare India's workforce for emerging technologies such as artificial intelligence, quantum computing and cyber security.

He noted that recent policy discussions have brought sharper focus to deep-tech development and said that the second Rs 10,000-crore Startup Fund of Funds announced by the government will significantly support deep-tech startups, particularly at early and critical stages of growth. He added that his interactions with incubators and academic institutions across the country reflect strong momentum in this sector.

- IANS

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Reader Comments

P
Priya S
The emphasis on deep-tech and the new fund is crucial. 🇮🇳 We have brilliant minds in AI and quantum computing, but they often move abroad for funding and infrastructure. If this fund truly helps early-stage startups here, it could reverse the brain drain. Fingers crossed!
R
Rohit P
Good to hear about tourism and skill development. These are massive sectors for job creation, especially in tier-2 and tier-3 cities. Integrating tech here, like using VR for skill training or apps for rural tourism, can unlock huge potential. Hope local entrepreneurs grab this.
S
Sarah B
While the vision is positive, the reality on the ground for many early-stage founders is still very tough. Regulatory compliance, tax complexities, and access to patient capital remain huge hurdles. The FTAs are great, but we need smoother domestic processes first.
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Vikram M
Absolutely right about the shift in mindset! Today's youth is not just looking for a safe government job. They want to build and solve problems. This entrepreneurial confidence, combined with global market access, can make India a true product nation, not just a services hub. Jai Hind!
K
Karthik V
The focus on re-skilling is the most important point. Tech is changing fast. We need massive public-private partnerships to train our workforce in AI, cybersecurity etc. Otherwise, the opportunities from FTAs will be captured by a small, skilled elite, increasing inequality.

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