Commerce and Industry Minister Piyush Goyal on Thursday said that India offers preferential market access to economies representing approximately three-fourths of the global GDP. This establishes India as a reliable destination for international trade and investment amid global uncertainties.
While inaugurating the 31st CII Partnership Summit 2026 in Visakhapatnam alongside Andhra Pradesh Chief Minister N. Chandrababu Naidu, Commerce and Industry Minister Piyush Goyal assured global investors of India’s open market, strong industrial capabilities, reliable business environment and protection for their investments.
India Expands Preferential Market Access
Goyal said India has concluded nine Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs) with 38 countries over the past four-and-a-half years, covering economies with a combined GDP of around $60 trillion.
He added that ongoing trade negotiations could expand India’s preferential market access to approximately $85 trillion, accounting for nearly 75% of global GDP.
India as a Trusted Investment Destination
Goyal highlighted India’s track record of supporting more than 100 countries with vaccines, medicines and food grains during the COVID-19 pandemic. He said trust, transparent governance, faster decision-making and the ability to deliver at scale would play an increasingly important role in building global investment partnerships.
The minister urged international investors to establish manufacturing units, research and development centers and global capability centers in India. He also called upon the Indian industry to strengthen sustainability, skill development and global quality standards.
Andhra Pradesh Shifts Focus to Speed of Doing Business
Goyal appreciated Andhra Pradesh’s investor-friendly policies, particularly its escrow account system, which ensures the timely payment of incentives to investors. He also highlighted the state’s focus on emerging sectors such as artificial intelligence, quantum technology, data centres and advanced manufacturing.
The Minister highlighted emerging industrial projects and capabilities, including a drone city at Orvakal, a space city at Tirupati and a green hydrogen hub at Pudimadaka. He said India offers global companies opportunities to undertake research, development and manufacturing while respecting intellectual property rights.
He praised Chief Minister N. Chandrababu Naidu’s long-term vision and said the Centre and state government are working together to turn India’s growing global trade opportunities into investments, industries and employment.
The two-day summit, themed ‘Navigating the New World Order: Trade, Technology, Trust and Thought Leadership’, is being jointly organized by the Confederation of Indian Industry (CII), the Department for Promotion of Industry and Internal Trade (DPIIT) and the Government of Andhra Pradesh.
The event brings together policymakers, ministers and business leaders from approximately 60 countries to discuss opportunities in trade, technology and investment.
(PIB)
