Union Minister of Commerce and Industry Shri Piyush Goyal Highlights India’s Expanding Global Economic Engagement and Growing Integration with Global Value Chain

Union Minister of Commerce and Industry Shri Piyush Goyal addressed the Leadership Dialogue at the 13th PAFI Annual Forum 2026 in New Delhi, highlighting India's expanding global economic engagement and integration into global value chains. He noted that India currently functions as a $4 trillion economy (and approximately $20 trillion on a purchasing power parity basis, making it the third largest globally) with a trajectory towards a $30 trillion economy. Ongoing trade negotiations involve multiple regions including Canada, Chile, Peru, Mexico, GCC, Israel, and Eurasia, among others. The Minister additionally stated that India's annual semiconductor demand is projected to exceed $150 billion in five years, highlighted the growth of the startup ecosystem to over 120 unicorns, and noted advancements in the deep-tech and private space sectors.