In his address, Goyal noted that India’s inaugural Semiconductor Mission had initially allocated USD 10 billion, which, when combined with support from state governments, successfully attracted USD 20 billion in investments into the semiconductor sector. Building on this momentum, the government has now introduced Semiconductor India Mission 2.0, featuring a budget of USD 15 billion. The minister expressed optimism that, alongside matching incentives from state governments, this initiative could catalyse up to USD 50 billion in new investments.

Goyal highlighted the surging demand for semiconductors within India, projecting the nation’s annual semiconductor consumption to reach USD 150 billion over the next five years. He characterised this growing market as a significant opportunity to foster innovation and domestic manufacturing.

In addition to semiconductor investments, Goyal unveiled a people-mobility initiative, communicated by Prime Minister Takaichi of Japan, who expressed eagerness to accept 300,000 Indian professionals across various industries to bolster Japan’s economy. He proposed collaboration with companies from the Kansai region to provide training for these workers in Japanese cultural practices, work ethics, and language skills before their deployment in Japan.

Goyal encouraged leaders from Kansai’s industrial sector to engage more actively with India through investments and collaboration. He proposed joint exhibitions, industry dialogues, and exchange seminars as platforms for deeper engagement between Japanese and Indian companies.

The minister also identified food processing as a sector ripe for partnership. He stated that India could benefit from Japanese standards to enhance the quality of its processed food, while Japanese enterprises could view India as both a valuable market and a technological collaborator.

On the maritime front, Goyal pointed to India’s significant contingent of nearly 250,000 seafarers currently employed on ships globally. Following discussions with the Mediterranean Shipping Company (MSC), which has committed to establishing a large-scale seafarer training academy in Mumbai, Goyal urged Japanese shipping companies and training institutions to consider similar collaborative ventures. He mentioned that MSC has shown a capacity to absorb Indian workers, reflecting a substantial global demand for skilled seafarers, whom he described as hardworking and talented.

Goyal articulated that collaborations in sectors such as semiconductors, human resources, food processing, and maritime training present “significant opportunities” for Japanese firms to integrate into India’s economic growth narrative.

This proactive approach aims to forge stronger economic ties between India and Japan, capitalising on mutual benefits in various industries. The discussions suggest a concerted effort to create a synergy between the two nations, tapping into India’s burgeoning market potential while advancing Japan’s economic goals.

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In an interview with ANI at the conclusion of his visit, Goyal expressed that there was “very good excitement in Japan.” He underscored the participation of over 200 individuals from the Indian business community and the global industry during this trip. He remarked, “I saw very good excitement in Japan. I have had many good meetings. More than 200 people from India, from the world of industry, came with me. They also have many business-to-business connections.”

The Minister emphasised that the visit was productive, resulting in more than mere discussions, and highlighted the commencement of business-to-business engagements that are anticipated to lead to actual investment opportunities. Goyal provided a case in point regarding the robotics sector, stating that a company he met with in Tokyo had quickly moved to identify an Indian partner for manufacturing robots in India by the following Thursday.

“I was talking to a company in robotics on Monday in Tokyo, and today in Osaka, they have identified a company in India to invest in and make robots in India,” Goyal reported. “So, the results are also coming along with it, and a lot of potential has been seen.”

The Minister acknowledged the vast opportunities emerging from the economic engagement between India and Japan. He declared, “The possibilities are limitless. We have to give shape to the industrial world of India.”

During his visit, which spanned from August 24 to August 27, Goyal led a business delegation consisting of nearly 200 members, aiming to enhance trade and investment relations between the two nations. The agenda included meetings with senior executives from various Japanese companies across multiple sectors such as semiconductors, electronics, aluminium, paints and coatings, and sports manufacturing.

There was a concerted push to deepen Japanese investment in growing sectors like semiconductors, artificial intelligence, data centres, renewable energy, and advanced manufacturing during the trip. Goyal pointed out that around 1,500 Japanese companies are currently operational in India, with a target set by Prime Minister Narendra Modi to double this number to 3,000.

“The goal is to attract investment across various sectors, such as financial services, insurance, and pension funds, and to leverage Japanese technology and investment on a large scale,” Goyal stated during his meetings.

He also stressed the necessity of boosting business-to-business cooperation between India and Japan, highlighting his aspiration for the number of Japanese firms in India to double within this decade. Discussions included Japan’s interest in manufacturing for global markets, where local businesses engaged in various emerging sectors.

The trip also involved dialogue regarding the review of the India-Japan Comprehensive Economic Partnership Agreement (CEPA). Goyal noted that talks had just commenced, indicating that both nations would be attentive to their sensitive issues while negotiating.

“Of course, whenever there is a review, every country takes care of its sensitive issues. In the same way, the talks with Japan have just begun,” he conveyed.

Furthermore, the Minister mentioned India’s readiness to address regulatory concerns raised by enterprises aiming to set up manufacturing operations in the country. He stated that the government would amend existing regulations and introduce new rules in the coming months to alleviate these concerns.

On the economic front, the India-Japan bilateral trade reached USD 27.47 billion for FY 2025-26, with exports from Japan to India amounting to USD 21.43 billion and Indian imports to Japan at USD 6.04 billion. Both industry bodies and government officials aim to elevate this bilateral trade to USD 50 billion by 2030.

This visit reflects a strategic move by India and Japan to strengthen their economic ties, marking 2026 as the “India-Japan Year of Shared Horizons” to celebrate 75 years of diplomatic relations. Goyal concluded by affirming that the positive feedback from Japanese businesses and early developments in sectors like robotics illustrate the potential for transitioning the relationship toward greater investment, technology, and manufacturing collaborations.

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During a media briefing in Nagoya on Wednesday, Goyal confirmed that the review of the CEPA was addressed in his recent meeting with Japan’s Minister of Economy, Trade and Industry, Akazawa Ryosei, in Tokyo. He noted that the matter had previously been discussed by the Prime Ministers of both countries during the 16th India-Japan Annual Summit held in New Delhi in July.

“This issue was discussed between the two Prime Ministers at the 16th Summit held in Delhi,” Goyal stated. He referenced a joint statement from the summit, emphasizing the need to update the CEPA since it has been 15 years since its signing.

Goyal indicated that while discussions are ongoing, the terms of reference for the CEPA review have yet to be established. “We haven’t started working on the terms of reference of CEPA yet, but we are open to expanding the scope, scale and extent of engagement,” he added.

The CEPA, signed on February 16, 2011, and effective from August 1 of that year, encompasses trade in goods and services, investments, and various areas of economic cooperation. The joint statement following the July summit highlighted the necessity of enhancing and diversifying bilateral trade to reflect the changes over the past 15 years.

In addition to the CEPA review, Goyal’s discussions with Akazawa also revolved around increasing bilateral trade and investment. They explored opportunities in new and emerging sectors, including next-generation industries, technology, and manufacturing.

A notable development reported by Goyal was that Uniqlo, the Japanese apparel retailer, is interested in entering the Indian market. He mentioned that the company’s chairman expressed significant enthusiasm during their meeting, with a readiness to begin sourcing from India in the near future.

Goyal is presently on a four-day visit to Japan from August 24 to 27, leading India’s largest-ever business delegation of over 200 representatives from various sectors, including manufacturing, semiconductors, clean energy, automotive, and healthcare.

India and Japan maintain a Special Strategic and Global Partnership, with growing economic collaborations in areas such as semiconductors, artificial intelligence, supply-chain resilience, and advanced manufacturing. Bilateral trade between the two countries reached approximately USD 27.5 billion in the 2025-26 fiscal year, with Japan being India’s fifth-largest source of foreign direct investment. Both nations are also targeting 10 trillion yen in private investment from Japan into India, as set during the annual summit in 2025.

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During his speech, Goyal highlighted the rapid growth of the Indian economy and the nation’s increasing openness to international collaboration, particularly through free trade agreements. He expressed his desire for Japanese firms to leverage India’s skilled workforce and vast market potential.

Goyal underscored the importance of localisation, arguing that it can improve cost competitiveness for companies operating in India. His comments reflect a broader strategy to attract foreign investment by fostering an environment conducive to business.

Encouragement for Innovation and Research

The Minister urged Japanese firms to establish more research and development centres in India, alongside global capability centres (GCCs), which could enhance partnerships between Japanese companies and Indian educational institutions. He pointed out that these initiatives would support the cultivation of engineering talent within the country.

In addition, Goyal remarked that the Indian government is prepared to assist with funding aimed at fostering innovation. He suggested that companies capable of innovating in India could lower operational costs. He also encouraged firms to consider offshoring some of their work to India, building on efficiencies gained during the COVID-19 pandemic.

His comments reflect an ongoing commitment to promoting India’s manufacturing capabilities, with a clear message that new factories and capacities are needed to meet domestic and global demands. “A warm welcome to all of you,” Goyal stated, reiterating India’s readiness to encourage foreign investment.

Japan’s Investment Landscape in India

Japan ranks as the fifth largest investor in India, with the country having received a total of USD 48.14 billion in foreign direct investment (FDI) between April 2000 and March 2026. This investment accounts for 6 per cent of the total FDI attracted by India during this time frame.

To further boost bilateral ties, Goyal is leading a delegation comprising 200 business representatives to Japan. The primary aim of this visit is to explore new avenues for trade and investment between the two nations. In line with this agenda, Japan set an ambitious investment target of 10 trillion yen, approximately Rs 60,000 crore, in India over the next decade.

The collaboration between India and Japan is seen as a vital partnership, particularly in the context of advancing economic growth and establishing a more interconnected regional market. This ongoing dialogue and cooperation could potentially benefit both nations through shared innovations and strengthened business relationships.

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भारतीय जनता पार्टी (भाजपा) के राष्ट्रीय अध्यक्ष नितिन नबीन ने सोमवार को पार्टी की बहुप्रतीक्षित नई राष्ट्रीय टीम और केंद्रीय पदाधिकारियों की सूची घोषित कर दी है। इस नए सांगठनिक फेरबदल को आगामी 2027 के विधानसभा चुनावों और ‘मिशन 2029’ की तैयारियों के लिहाज से बेहद महत्वपूर्ण माना जा रहा है। इस नई टीम में जहां पुराने और अनुभवी चेहरों को बरकरार रखते हुए क्षेत्रीय संतुलन साधने का प्रयास किया गया है, वहीं कई नए सांगठनिक चेहरों को शामिल कर युवा ऊर्जा को भी तरजीह दी गई है। इस पूरी घोषणा का सबसे बड़ा मुख्य आकर्षण पूर्व केंद्रीय मंत्री स्मृति ईरानी की राष्ट्रीय संगठन के मुख्य पटल पर धमाकेदार वापसी है, जिन्हें पार्टी का नया राष्ट्रीय महासचिव नियुक्त किया गया है और उत्तर प्रदेश जैसे राजनीतिक रूप से सबसे महत्वपूर्ण राज्य की कमान सौंपी गई है।

नितिन नबीन की नई टीम: 7 महीने का इंतजार खत्म

नितिन नबीन ने इस साल 20 जनवरी को भाजपा के राष्ट्रीय अध्यक्ष का पदभार संभाला था. अध्यक्ष पद संभालने के बाद से ही उनकी नई टीम के गठन को लेकर राजनीतिक गलियारों में अटकलों का बाजार गर्म था। लगभग 7 महीनों के लंबे इंतजार और मैराथन बैठकों के दौर के बाद सोमवार को आखिरकार इस सूची को अंतिम रूप देकर जारी किया गया। नवनियुक्त पदाधिकारियों को बधाई देते हुए भाजपा अध्यक्ष नितिन नबीन ने कहा कि अनुभव और ऊर्जा के इस बेहतरीन मिश्रण के साथ यह टीम प्रधानमंत्री नरेंद्र मोदी के मार्गदर्शन में संगठन को नई गति प्रदान करेगी। उन्होंने विश्वास जताया कि प्रत्येक कार्यकर्ता ‘विकसित भारत’ के संकल्प और राष्ट्र निर्माण की प्रतिबद्धता को नई ऊंचाइयों पर ले जाने का काम करेगा।

स्मृति ईरानी की बड़ी सांगठनिक वापसी और उत्तर प्रदेश का प्रभार

इस सांगठनिक फेरबदल का सबसे बड़ा राजनीतिक संदेश स्मृति ईरानी की नियुक्ति से मिला है। पिछले लोकसभा चुनाव के बाद से निर्णय प्रक्रिया से थोड़ी दूर रहीं वरिष्ठ नेता स्मृति ईरानी को अब राष्ट्रीय महासचिव का बेहद महत्वपूर्ण पद देकर पार्टी में उनके ऊंचे कद को पुनः स्थापित किया गया है। उन्हें न केवल महासचिव बनाया गया है, बल्कि उत्तर प्रदेश का प्रभारी भी नियुक्त किया गया है।  उत्तर प्रदेश में 2027 की शुरुआत में ही विधानसभा चुनाव होने हैं। ऐसे में चुनावी राज्य की कमान स्मृति ईरानी जैसे आक्रामक और प्रभावशाली चेहरे को सौंपना यह स्पष्ट करता है कि भाजपा उत्तर प्रदेश को लेकर किसी भी स्तर पर ढिलाई बरतने के मूड में नहीं है।  राजनीतिक विश्लेषकों का मानना है कि स्मृति ईरानी का सांगठनिक अनुभव और उत्तर प्रदेश की राजनीति की गहरी समझ आगामी चुनावों में पार्टी को मजबूत बढ़त दिलाने में मददगार साबित हो सकती है।

राष्ट्रीय उपाध्यक्षों की सूची: पुराने दिग्गजों पर भरोसा बरकरार

नितिन नबीन की नई कार्यकारिणी में कुल 13 नेताओं को राष्ट्रीय उपाध्यक्ष की जिम्मेदारी दी गई है। इस सूची में पार्टी ने अपने पुराने और दिग्गज क्षत्रपों पर पूरा भरोसा जताया है। राजस्थान की पूर्व मुख्यमंत्री वसुंधरा राजे सिंधिया को पार्टी का राष्ट्रीय उपाध्यक्ष बनाए रखा गया है। इसके अतिरिक्त, पार्टी के प्रमुख रणनीतिकार माने जाने वाले राम माधव की भी मुख्य संगठन में बड़ी वापसी हुई है और उन्हें राष्ट्रीय उपाध्यक्ष नियुक्त किया गया है। राष्ट्रीय उपाध्यक्षों की पूरी सूची इस प्रकार है-

वसुंधरा राजे सिंधिया (राजस्थान)

तीरथ सिंह रावत (उत्तराखंड)

राम माधव (दिल्ली)

बैजयंत जय पांडा (ओडिशा)

डी. पुरंदेश्वरी (आंध्र प्रदेश)

रेखा वर्मा (उत्तर प्रदेश)

वर्षाबेन नरेंद्रभाई दोषी (गुजरात)

डॉ. भारती प्रविण पवार (महाराष्ट्र)

मनप्रीत सिंह बादल (पंजाब)

लाल सिंह आर्य (मध्य प्रदेश)

प्रो. एम. नागराजा (कर्नाटक)

प्रो. तारिक मंसूर (उत्तर प्रदेश)

डॉ. मधुचंद्र कर (पश्चिम बंगाल)

इस सूची से साफ है कि भाजपा ने देश के सभी हिस्सों- उत्तर, दक्षिण, पूर्व और पश्चिम को आनुपातिक प्रतिनिधित्व देने की कोशिश की है। पंजाब से मनप्रीत सिंह बादल और उत्तर प्रदेश से मुस्लिम चेहरे के रूप में प्रो. तारिक मंसूर को शामिल करना पार्टी की सर्वसमावेशी रणनीति का हिस्सा माना जा रहा है।

राष्ट्रीय महासचिव: संगठन की रीढ़

पार्टी संगठन को सुचारू रूप से चलाने की मुख्य जिम्मेदारी राष्ट्रीय महासचिवों के कंधों पर होती है। अध्यक्ष नितिन नबीन ने अपनी इस टीम में 8 राष्ट्रीय महासचिवों की नियुक्ति की है। बी.एल. संतोष पूर्व की भांति राष्ट्रीय महासचिव (संगठन) के रूप में अपनी सेवाएं जारी रखेंगे, जो आरएसएस और भाजपा के बीच मुख्य सांगठनिक कड़ी हैं। इनके अलावा महासचिवों की सूची में विनोद तावड़े, सुनील बंसल, स्मृति ईरानी, त्रिपुरा के पूर्व मुख्यमंत्री बिप्लव कुमार देव, सतीश पूनिया, गजेंद्र पटेल, हरीश द्विवेदी और संजय भाटिया शामिल हैं। उत्तर प्रदेश के सांगठनिक मामलों में लंबा अनुभव रखने वाले सुनील बंसल और राजस्थान के पूर्व प्रदेश अध्यक्ष सतीश पूनिया को महासचिव पद पर बनाए रखना या लाना यह दर्शाता है कि पार्टी चुनावी राज्यों के प्रबंधन को अत्यधिक प्राथमिकता दे रही है।

पीयूष गोयल बने नए राष्ट्रीय कोषाध्यक्ष

एक और बड़ा और चौंकाने वाला नाम केंद्रीय मंत्री पीयूष गोयल का है, जिन्हें भाजपा का नया राष्ट्रीय कोषाध्यक्ष नियुक्त किया गया है।  पीयूष गोयल की छवि एक कुशल वित्तीय प्रबंधक और साफ-सुथरी राजनीति करने वाले नेता की रही है, इसलिए उन्हें पार्टी के केंद्रीय कोष की जिम्मेदारी सौंपना बेहद स्वाभाविक और रणनीतिक कदम माना जा रहा है। उनके साथ राजस्थान के राजेश मंगल को राष्ट्रीय सह-कोषाध्यक्ष की जिम्मेदारी दी गई है।

विभिन्न मोर्चों और सांगठनिक इकाइयों में नए चेहरे

टीम नितिन नबीन में केवल शीर्ष स्तर पर ही नहीं, बल्कि विभिन्न सहयोगी मोर्चों (Morchas) में भी व्यापक बदलाव किए गए हैं-

युवा मोर्चा: युवाओं को पार्टी से जोड़ने की सबसे बड़ी जिम्मेदारी निभाने वाले भारतीय जनता युवा मोर्चा (BJYM) का नया अध्यक्ष डॉ. हेमंत जोशी (गुजरात) को बनाया गया है।

महिला मोर्चा: महिलाओं के बीच पैठ मजबूत करने के लिए रूप कुमारी चौधरी को महिला मोर्चा की राष्ट्रीय कमान सौंपी गई है।

किसान मोर्चा: ग्रामीण और कृषि क्षेत्रों में पार्टी के आधार को सुदृढ़ करने के लिए बंसीलाल गुर्जर को किसान मोर्चा का राष्ट्रीय अध्यक्ष नियुक्त किया गया है।

पूर्वोत्तर और मीडिया कमान: पार्टी के कद्दावर प्रवक्ता डॉ. संबित पात्रा को नॉर्थ-ईस्ट (पूर्वोत्तर राज्यों) का समन्वयक (Coordinator) बनाया गया है। वहीं, उत्तराखंड के अनिल बलूनी को मीडिया संयोजक (Media Convenor) के रूप में निरंतरता दी गई है।

33 प्रतिशत महिला आरक्षण और ‘Gen-Z’ वोटर्स पर विशेष ध्यान

इस नई टीम के गठन की आंतरिक परतों को देखें तो भाजपा ने आगामी सांगठनिक बदलावों में महिलाओं को न्यूनतम 33 प्रतिशत प्रतिनिधित्व देने की अपनी नीति को जमीन पर उतारा है। कुल 13 उपाध्यक्षों में से 6 महिला नेता हैं, जो मुख्य नीति-निर्धारण में महिलाओं की बड़ी भागीदारी सुनिश्चित करता है। इसके अलावा, विभिन्न प्रदेशों में बढ़ रहे युवा और पहली बार मतदान करने वाले ‘Gen-Z’ वोटर्स को साधने के लिए नए पदाधिकारियों में कई युवा चेहरों को सचिव (16 राष्ट्रीय सचिव) के रूप में मौका दिया गया है।  अकेले उत्तर प्रदेश से इस टीम में 6 पदाधिकारियों को जगह मिली है, जिससे यह स्पष्ट होता है कि देश के सबसे बड़े सूबे पर केंद्रीय नेतृत्व का कितना गहरा ध्यान केंद्रित है।

नई टीम पर सबकी निगाहें

निश्चित रूप से, भाजपा की यह नई टीम सांगठनिक दृढ़ता और चुनावी चुनौतियों से निपटने के लिए एक पूर्ण संतुलित खाका पेश करती है। अब देखना यह होगा कि नितिन नबीन की अध्यक्षता में तैयार हुई यह नई फौज आने वाले महीनों में होने वाले विधानसभा चुनावों में पार्टी को कितनी बड़ी सफलता दिला पाती है।

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The meeting came during Vasquez’s first official visit to India and follows a series of high-level engagements aimed at expanding cooperation in sectors including maritime connectivity, digital governance and business-to-business ties.

Goyal, Vasquez Discuss Trade and Digital Cooperation

Sharing details of the meeting, Goyal said the two sides held productive discussions on strengthening the India-Panama partnership across multiple sectors.

“We held productive discussions on deepening the India-Panama partnership across trade, investment, logistics, digital cooperation and business-to-business engagement,” Goyal said in a post on X.

It was a pleasure meeting Mr. Javier Eduardo Martinez-Acha Vasquez, Minister of Foreign Affairs of the Republic of Panama, on his first official visit to India. 🇮🇳🇵🇦

We held productive discussions on deepening the India-Panama partnership across trade, investment, logistics,… pic.twitter.com/V7orGjs9kl

— Piyush Goyal (@PiyushGoyal) July 22, 2026

The Commerce Minister said both sides explored ways to improve market access, create new opportunities for bilateral trade and leverage India’s Digital Public Infrastructure, including the Unified Payments Interface (UPI), to expand cooperation in digital payments and digital governance.

Maritime Cooperation Also on Agenda

Earlier on Wednesday, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal held bilateral talks with Vasquez to enhance maritime cooperation between the two countries.

According to the discussions, logistics, shipping, maritime security, skill development and digital transformation were identified as key areas for expanding the strategic partnership.

Panama Calls India a ‘Superpower’

During his visit, Vasquez described India as “already a superpower” and advocated elevating bilateral ties into a long-term strategic partnership.

Speaking during delegation-level talks with External Affairs Minister S Jaishankar on Monday, he said it was a privilege to visit India at a time when the country was playing an increasingly significant role in shaping the global order.

Highlighting Panama’s strategic location, Vasquez said the country could serve as India’s gateway to Latin America for trade, investment and global supply chains.

“We may be a small country geographically, but we have always believed that our value is measured by the connections we create, not by the size of our territory. Just as India connects ideas, Panama connects markets. The Panama Canal is more than an engineering achievement. It is a platform for trusted global commerce,” he said.

Emphasising Panama’s role in India’s international economic engagement, he added, “We would like India to see Panama as a strategic extension of its international economic outreach. Panama is, as you mentioned, India’s main gateway to Latin America and to Central America.”

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Addressing the India-Spain Business Forum in Madrid on Monday, Goyal welcomed a proposal to jointly prepare a roadmap for future economic cooperation and said the two countries should significantly expand trade, investment and technology collaboration.

Goyal Calls For Ambitious India-Spain Economic Roadmap

Goyal welcomed the proposal by Spain’s Minister of Economy, Trade and Business, Carlos Cuerpo, to prepare a roadmap aimed at unlocking the full potential of bilateral economic relations.

“Could we create a roadmap, as was suggested by my friend and counterpart Carlos this morning, Minister Carlos? That if we are to really get the best out of the potential that the two countries hold, let’s sit down and create a roadmap for the future. I love the idea,” Goyal said.

Referring to a proposal to double bilateral trade within the next three years, the Commerce Minister said the target was encouraging but insufficiently ambitious.

“And then that got me thinking… we should be looking at doubling the bilateral trade in the next three years. That’s super. Much better than what most countries would do,” Goyal said.

He said repeatedly doubling trade every three years would result in approximately seven-fold growth over a decade, but argued that India and Spain should aim even higher.

“But then, even if we were to double it in three years, and then double it again in another three years, and then double it again in another three years, we are looking at a 7x growth in 10 years. But that’s what the ambassador said. As minister, I cannot just be satisfied with that,” he added.

Bilateral Trade Below Potential Of Two Economies

Goyal said the current level of trade and investment between India and Spain did not reflect the size and strength of their economies.

Describing India and Spain as “two vibrant democracies”, he highlighted their civilisational ties and shared commitment to a rules-based global trading system.

“Spain and India, two vibrant democracies with ties going back to ancient civilisational times, with many elements in our shared history which bring us closer together,” Goyal said.

“Two countries who are pretty much aligned in their world view, who see the rules-based trading order as an important element of the future of trade and commerce in the world,” he added.

Goyal said Spain continued to outperform despite signs of slowing economic growth across the European Union, while India remained the world’s fastest-growing large economy.

“Two of the world’s most exciting economies, if I say so, in terms of potential to grow. Even EU is showing signs of slowing down, Spain continues to outperform. India, despite all global challenges, continues to be the fastest growing large economy,” he said.

India-Spain Trade Below USD 10 Billion, Services At USD 4 Billion

Highlighting the scope for expanding commercial ties, Goyal said the combined size of the Indian and Spanish economies stood at about USD 6 trillion, while bilateral trade remained below USD 10 billion.

“I was just doing some maths and also taking the support of the IMF projections into the future, and if one looks at our trade and the size of support between Spain and India, you are a USD 2 trillion economy, we are a USD 4 trillion economy today,” Goyal said.

“At USD 6 trillion, the total bilateral trade is less than USD 10 billion. Our trade in services barely touches USD 4 billion,” he added.

The minister said the figures demonstrated the considerable untapped potential for expanding trade, services and investment between the two countries.

India, Spain Discuss Cooperation In Green Energy And Technology

Earlier in the day, Goyal met Spain’s First Vice President and Minister of Economy, Trade and Business, Carlos Cuerpo, for discussions on strengthening bilateral economic cooperation.

The two sides discussed measures to enhance trade, investment and technology partnerships.

Talks focused on renewable energy, green hydrogen, advanced manufacturing, digital technologies, infrastructure and innovation.

Goyal said deeper cooperation in these sectors could help India and Spain unlock the full potential of their economic partnership and significantly expand bilateral trade and investment over the coming decade.

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During his visit to the United Kingdom, Goyal also urged businesses to pursue more ambitious growth targets, increase exports and capitalise on opportunities emerging from the India-UK Comprehensive Economic and Trade Agreement (CETA), which is scheduled to come into effect on July 15.

Goyal Meets UK India Business Council Members

Goyal held an interactive luncheon meeting with members of the UK India Business Council, engaging with C-suite executives from major international organisations, including Tata Consultancy Services, Tata Group, HSBC, Prudential and Baker McKenzie.

Sharing details of the interaction on X, the minister said discussions focused on expanding economic cooperation and accelerating investment flows between the two countries.

“Had an interactive luncheon meeting with UK India Business Council members, engaging with C-suite representatives from leading global organisations including Tata Consultancy Services, Tata Group, HSBC, Prudential, and Baker McKenzie on advancing the India-UK growth agenda,” Goyal said.

Had an interactive luncheon meeting with @UKIBC members, engaging with C-suite representatives from leading global organisations including @TCS, @TataCompanies, @HSBC, @Prudential, and @BakerMcKenzie on advancing the India-UK growth agenda.

The discussions focused on unlocking… pic.twitter.com/9eLCs9pf7W

— Piyush Goyal (@PiyushGoyal) June 26, 2026

He added that the talks centred on “unlocking new opportunities, accelerating investments, and deepening collaboration across sectors to foster shared growth while further strengthening India’s global competitiveness.”

Push For Greater Trade And Investment

Earlier, addressing a business plenary session, Goyal interacted with industry leaders and stakeholders on opportunities for trade, investment and economic expansion between India and the United Kingdom.

The minister called for greater Indian exports to the UK, arguing that significant untapped potential remains and that India should target a larger share of the British market.

He highlighted the opportunities expected to emerge from the implementation of the India-UK Comprehensive Economic and Trade Agreement, describing it as an important step towards boosting bilateral economic engagement.

Goyal stressed that collaboration, partnerships and stronger business linkages would be critical to achieving faster growth and unlocking the full benefits of the agreement.

Calls For Higher Growth Ambitions

During his address, Goyal urged Indian businesses to move beyond incremental growth targets and pursue transformational expansion.

He said the global community increasingly views India as a key driver of future economic growth and expects the country to deliver on that potential.

“I do believe that what we will seize now will become very valuable. Very often in our cosy comfort, we lose track, time passes by. And then we get into the typical rut of claiming success when we have 5, 7, or 10% growth,” he said.

Goyal argued that limiting ambitions to modest growth levels would fall short of international expectations from India.

“International trade normally grows at 4 to 6%, or 5%. If that is the kind of level of ambition that we will keep as a nation, it’ll be completely a betrayal of the trust that the world has in us today,” he said.

Questions Global Rating Agencies’ Assessment

The minister also criticised global credit rating agencies, saying India’s economic performance and long-term potential have not been adequately recognised.

He said agencies such as Fitch, Moody’s and S&P had been unfair in their assessment of India’s growth story despite the country’s strong economic fundamentals and capabilities.

According to Goyal, India’s resilience, competitiveness and expanding role in the global economy warrant greater recognition from international institutions.

His remarks come as India and the United Kingdom prepare for the rollout of CETA, which is expected to further strengthen trade, investment and economic cooperation between the two countries.

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The discussions also focused on investment prospects in India, with both sides exchanging views on the country’s economic momentum and growing appeal among international investors.

Sharing details of the meeting on X, Goyal said India was strengthening its position as a preferred destination for global investments.

Held a meeting with Ms. Janet Truncale, Global Chair & CEO of EY.

Exchanged views on India’s consistently growing role in global supply chains & opportunities regarding Global Capability Centres (GCCs).

Also discussed investment avenues, given India’s strong economic growth… pic.twitter.com/5gS795gPUo

— Piyush Goyal (@PiyushGoyal) June 9, 2026

Focus On Supply Chains And GCC Opportunities

“Held a meeting with Ms Janet Truncale, Global Chair & CEO of EY. Exchanged views on India’s consistently growing role in global supply chains and opportunities regarding Global Capability Centres (GCCs),” Goyal said in a post.

He added that discussions also covered investment avenues amid India’s strong economic growth trajectory.

India has witnessed a rapid expansion of Global Capability Centres in recent years, with multinational companies increasingly setting up technology, innovation and back-office hubs in the country. Industry experts view the segment as one of the major drivers of employment and high-value services growth.

The meeting comes as India seeks to strengthen its position in global manufacturing and services supply chains while attracting greater foreign investment.

Minister Projects Strong Growth In Pharma Sector

Earlier this week, Goyal expressed confidence in the future of India’s pharmaceutical industry, stating that the sector, currently valued at around USD 60 billion, is expected to double in size over the next five years.

Speaking at the Pharmaceutical Export Promotion Council’s Global Ambassadors Meet on the sidelines of IPHEX 2025, he outlined three pillars underpinning India’s pharmaceutical success: trust, innovation and competitiveness.

According to the minister, India currently meets 65 to 70 per cent of the World Health Organisation’s vaccine requirements and hosts the highest number of US Food and Drug Administration-approved manufacturing plants outside the United States.

He also noted that 10 of the world’s top 25 generic pharmaceutical companies operate from India.

Innovation Push Backed By Government Support

Highlighting the government’s efforts to encourage research and development, Goyal said patent filings in India had nearly doubled in recent years.

He pointed to the launch of the Biopharma Shakti initiative and the government’s USD 10 billion innovation fund aimed at supporting emerging sectors, including pharmaceuticals.

Emphasising India’s cost advantage, the minister said investments made in the country could deliver significantly higher value compared with advanced economies.

“You can probably get the same talent at one-tenth the price in India, and serve global innovation needs from here,” Goyal said.

The government has been actively promoting India as a hub for innovation, manufacturing and high-value services as it seeks to accelerate economic growth and attract global businesses.

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Minister Goyal took to X (formerly Twitter) to communicate the key points discussed during the roundtable. He highlighted the potential of the partnership in areas such as critical minerals, food processing, healthcare, clean energy, technology transfer, and other emerging fields. His remarks emphasized the promising prospects for bilateral cooperation under the Comprehensive Economic Partnership Agreement (CEPA), which aims to deepen economic ties and create growth opportunities for both nations.

Chaired the India-Chile Business Roundtable alongside H.E. Mr. Francisco Pérez Mackenna, Minister of Foreign Affairs of Chile, Ms. Paula Estévez, Undersecretary of International Economic Relations, and other distinguished business leaders from both nations.

The discussions… pic.twitter.com/si07iloJyS

— Piyush Goyal (@PiyushGoyal) May 13, 2026

Delegation Aims to Cement Ties

The Chilean delegation, led by Minister Francisco Perez Mackenna, is on a focused visit to India from May 9 to 15 to foster economic cooperation. This visit marks a concerted effort to enhance commercial relations and has been characterized by a series of productive discussions. Both countries reaffirmed their dedication to expanding trade and investment, noting ongoing positive trends in their bilateral relations.

The meetings underscored the strong complementarities between the two economies and highlighted the importance of resilient supply chains and sustainable development. The joint commitment to enhancing economic engagement was a recurring theme throughout the sessions, reflecting the shared vision of both nations.

A crucial aspect of the ongoing dialogue focuses on negotiations regarding the CEPA. Both parties acknowledged the significance of this agreement for maximizing their economic partnership, with a strong resolve to expedite its finalization.

Business Roundtable Promotes New Opportunities

The India-Chile Business Roundtable also served to operationalise diplomatic objectives by bringing together business leaders and industry stakeholders from both countries. This session allowed for extensive discussions on new avenues in infrastructure, pharmaceuticals, digital services, logistics, and advanced manufacturing. The gathering illustrated the commitment to explore mutually beneficial initiatives in various sectors.

Additionally, the Commerce Secretary engaged in separate dialogues with Vice-Minister Paula Estevez to discuss matters of trade facilitation and market access. These discussions aimed at fortifying institutional economic engagement between India and Chile, further enhancing the framework for cooperation.

This collaborative effort underscores the sustained momentum between India and Chile in building a future-oriented economic partnership, underpinned by mutual trust and shared objectives. The visit and related engagements stand as a testament to the proactive approach both countries are taking towards fostering robust economic ties.

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