'India has done nine FTAs with 38 nations'

India has successfully established nine free trade agreements (FTAs) with 38 countries, providing preferential access to nearly two-thirds of global markets, as announced by Commerce and Industry Minister Piyush Goyal. Speaking at the EY Entrepreneur Of The Year Awards in Mumbai, Goyal emphasized the significance of these pacts in enhancing the reach of Indian goods, services, and labor-intensive sectors. He highlighted ongoing trade discussions with nations such as Chile and Canada, aiming to finalize negotiations soon. Goyal underscored the role of India's youthful workforce in driving economic growth, asserting that the nation's talent pool will be pivotal in adapting to advancements like artificial intelligence (AI). He likened the current era of AI to the Y2K phenomenon, predicting it will create new job opportunities and bolster exports while necessitating skilled professionals in cybersecurity and data protection. The minister reiterated that the Atmanirbhar Bharat initiative focuses on developing resilient supply chains through global partnerships rather than isolation. Additionally, veteran banker Uday Kotak discussed the transformative potential of AI and the challenges faced by Indian banks in adapting to regulatory costs. Goyal's remarks reflect a commitment to leveraging India's strengths in innovation and talent as the country strives to evolve into a developed economy by 2047.