India navigated international energy crisis  by diversifying energy sources:  Union Minister Piyush Goyal

Union Commerce Minister Piyush Goyal today said that strong fiscal management over the past twelve years under the leadership of Prime Minister Narendra Modi has enabled India to support farmers, MSMEs, businesses and vulnerable sections of society while maintaining economic stability. Delivering a virtual address at the Citi India Conference 2026 being held in Mumbai, Mr. Goyal said India has successfully navigated the international energy crisis despite disruptions affecting energy supplies from the Gulf region due to prior efforts to diversify energy sources. 
Highlighting India’s emergence as the world’s most trusted investment destination and outlining the Government’s ongoing efforts to strengthen manufacturing, ease of doing business, infrastructure, technology adoption and global trade engagement, Mr. Goyal said India has signed nine Free Trade Agreements in the last four years, covering 38 developed economies. He noted that these agreements complement India’s growth story by expanding market access, facilitating trade, enabling movement of talent and attracting investments, including the establishment of Global Capability Centres in India.
Citing examples of successful long-term investments in India, the Minister referred to Hyundai’s entry into India in 1999 with an investment of approximately 200 million dollars. He also cited JCB’s experience in India, explaining that the company entered the country when infrastructure development was still at an early stage and today exports products manufactured in India to nearly 130 countries while serving growing domestic demand.
Inviting global investors to participate in India’s growth journey, Mr. Goyal said the government is planning to develop 100 industrial parks across the country with an outlay of nearly USD 3.5 billion. He said the aim is to create plug-and-play industrial infrastructure, including factory-ready facilities, worker housing, recreational amenities, environmental clearances, common effluent treatment facilities, utilities, water supply, electricity and digital infrastructure.
Talking about infrastructure development, Mr. Goyal said that India is investing nearly 130 billion dollars in ports, highways, roads, rural connectivity and airports. He also highlighted the country’s focus on semiconductors and emerging technologies through large-scale reskilling and upskilling initiatives aimed at preparing the workforce for artificial intelligence and other advanced technologies.
Mr. Goyal emphasized that India offers a safe and secure ecosystem where intellectual property is protected, technology remains secure and data privacy is maintained. He reiterated that data centres serving global markets will enjoy income tax exemptions until 2047, the year by which India aims to become a developed nation with a USD 30 trillion economy under the vision of Viksit Bharat 2047.