Commerce Minister Piyush Goyal asserts Indian businesses must strengthen domestic industry to reshape global trade

Commerce and Industry Minister Piyush Goyal said that India is capable of strengthening itself against all obstacles, be they economic, technological, or geopolitical. Speaking at the CII Annual Business Summit 2026 in New Delhi, he said that the world is facing crises every day due to fragmented geopolitical and business conditions, but India has consistently converted adversity into opportunity. Mr Goyal asserted that Indian businesses must work collectively to strengthen the domestic industry as geopolitical and economic disruptions reshape global trade. The Minister noted that India has achieved a record year in exports, with total exports estimated at around 863 billion dollars.
Referring to International Monetary Fund standards, he said that the country currently has foreign exchange reserves sufficient to cover nearly eleven months of imports, placing the country in a very strong position globally. Highlighting the Indian economic fundamentals as robust, Mr Goyal stated that the country has never buckled under pressure and has always emerged stronger during challenging times.
Mr Goyal asserted that Indian businesses must work collectively to strengthen the domestic industry as geopolitical and economic disruptions reshape global trade. The Minister noted that India has achieved a record year in exports, with total exports estimated at around 863 billion dollars.
Speaking on the occassion, Education Minister Dharmendra Pradhan today stressed the need for a skill-based education system and said that, in this regard, a strong credit system must be developed under the National Education Policy. He said that internships and apprenticeships should also be integrated into the credit framework to provide greater support and opportunities to students. He described India’s education system as the most robust in the world.