Piyush Goyal Highlights India’s Expanding Global Economic Engagement & Supply Chain Integration

New Delhi, Sep 25 (KNN) Commerce and Industry Minister Piyush Goyal said India is expanding its engagement with the global economy and seeking greater integration with global value and supply chains.

Addressing the Leadership Dialogue at the 13th PAFI Annual Forum 2026 in New Delhi, Goyal said India is negotiating trade and economic partnerships from a position of a USD 4 trillion economy, with purchasing power parity-based GDP of around USD 20 trillion.

He said India is engaged in trade negotiations with Canada, Chile, Peru, the Southern African Customs Union (SACU), Mexico, Maldives, Eurasia, Central Asia, Russia, the Gulf Cooperation Council (GCC) and Israel.

Goyal said India’s semiconductor consumption is expected to exceed USD150 billion annually over the next five years and highlighted the need to build capabilities in artificial intelligence, including large language and agentic models.

He also said India has become the world’s third-largest startup ecosystem, with more than 120 unicorns, compared with around 400–500 startups when Startup India was launched. He said the focus is now on innovation and deep-tech startups.

Goyal also highlighted India’s emergence as the third country to have a privately launched rocket reach space.

(KNN Bureau)