Mumbai, 18 February 2026

 

Union Minister of Commerce and Industry Piyush Goyal addressed the second day of the Global Economic Cooperation (GEC) 2026 conference in Mumbai today, emphasised upon country’s emergence as a credible, indispensable partner in global trade and investment. 

Speaking at the GEC 2026, Union Minister of Commerce and Industry,  Piyush Goyal said,“Between now and 2047, India is expected to add approximately $26 trillion to its economy — a scale of growth opportunity that is unparalleled in history and unlikely to be replicated anywhere else in the world. The era of economic isolation is over - this is why we are building alliances, deepening friendships, and concluding trade agreements from a position of strength — nine agreements in four years, with more to come.” 

He added, “A free trade agreement, for us is an invitation to partner in India's future, to participate in a journey that will take India from the world's fourth-largest economy today to the third largest by 2027–28, and ultimately to a $30–35 trillion developed nation by 2047. The world wants to be part of this story. And India, open, trusted and growing, is ready to welcome every partner who comes to the table in sincerity."

Organised by the Future Economic Cooperation Council (FECC) in cooperation with the Ministry of External Affairs and the Government of Maharashtra, GEC 2026 brings together senior ministerial and business delegations from across the world to shape practical frameworks for resilient and future-ready economic cooperation.

Noting that India now has concluded agreements with 39 developed nations across, Minister Goyal attributed this success to a clear and disciplined national purpose. "India has concluded nine agreements between 2022 and now, within roughly four years. These agreements were negotiated from a position of strength with an objective of win-win situation to both sides. Trust enables us to protect our defensive interests and advance our offensive interests simultaneously. Partner nations have accepted India's position, because we have been honest and transparent about our objectives.” 

Piyush Goyal emphasised that farmers interests have been fully protected in these FTAs. He added while safeguarding the growth of MSMEs, protecting fishermen, and preserving jobs in India, the FTAs have  at the same time secured market access in textiles, footwear and leather, expanding pharmaceutical exports and have enhanced opportunities for farm and marine product exports, and attracting technology and investment.”

 

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