India charting new road with record export, free trade agreements : Piyush Goyal
NEW DELHI : India is charting a new road to economic prosperity with record export figures and multiple free trade agreements, Commerce Minister Shri Piyush Goyal said on Monday, highlighting the Vanijya Bhawan’s efficient infrastructure, effective support systems and positive work environment that was created three years ago.
Union minister of commerce and industry Piyush Goyal addresses the gathering during the 3rd year anniversary celebration of Vanijya Bhawan, in New Delhi on Monday. “Supported by a robust digital ecosystem, processes are being streamlined and made quick and more transparent,” the minister said, emphasizing that the Vanijya Bhawan personifies the spirit of optimism and resilience that helped the government to achieve record exports of $825 billion in 2024-25 against all odds. Vanijya Bhawan houses the commerce and industry ministry.
Despite global headwinds and adverse geopolitical situations, India has been able to register record export growth year-after-year, which is as per the Prime Minister Shri Narendra Modi’s vision that it is a major growth engine, an official said referring to PM inaugurating the modern administrative building of the commerce ministry on June 23, 2022.
“Exports play a key role in the transition of a country from developing to developed status,” Prime Minister said that day. The Union budget for FY26 acknowledged exports as one of the four growth engines for the Indian economy with agriculture as the first engine followed by micro, small and medium enterprises (MSMEs) and investments.
Vanijya Bhawan, which is a symbol of “new thinking”, is now India’s centre of major trade negotiations, including the recently concluded bilateral trade deal with the United Kingdom and two major ongoing free trade negotiations with the United States and the European Union, the official mentioned above said. “In all likelihood, an FTA negotiation with Canada is expected to be resumed soon even as we are engaged with similar bilateral trade deals with Peru, Chile and New Zealand. Our hands are full,” he said.
“Vanijya Bhawan has been envisioned as a modern, efficient, integrated and dedicated hub for India’s fast-growing commerce and industry ecosystem,” Goyal said in a series of posts on X. “In the 3 years since its inauguration by Prime Minister @NarendraModi ji, several milestones have been achieved and new benchmarks set in the way India does business,” Goyal said in the post.
This has been made possible by the commitment of our employees. From senior officials to the cleanliness staff, each individual working here is helping script the memorable story of India’s trade and commerce, he said. “I would like to thank each and every member of the Vanijya Bhawan Parivar,” he added.
The achievements of the last three years remind us of the power of planning, dedication and execution, the minister said. “Let us commit once again to engage further with our industry and global partners to realise the goal of Viksit Bharat 2047,” he said.
“Development of state-of-the-art futuristic infrastructure has been another highlight. The focus is squarely on empowering businesses and attracting greater investments. Enhancing stakeholder consultations, reducing compliance burden and improving Ease of Doing Business have resulted in empowerment of small businesses, increased investor confidence and a more competitive trade environment,” the minister said.
The Prime Minister on June 22, 2018 laid the foundation stone of the Vanijya Bhawan. The building has been completed in less than the budgeted cost of 226 crore. On the day of its inauguration three years ago, Goyal said that the Vanijya Bhawan would be made completely digital and would become a symbol of India’s growing power on the global platform.
