Date: 2026-02-25Category: Press ReleaseState: Union GovernmentCountry: India
Union Minister of Commerce and Industry Piyush Goyal Highlights Youth Power, AI and Global Trade While Giving Away the EY Entrepreneur Of The Year Awards in Mumbai
**Executive Summary**
The Union Minister of Commerce and Industry, Piyush Goyal, delivered the keynote address at the 27th edition of the EY Entrepreneur Of The Year Awards in Mumbai on February 25, 2026. He highlighted the importance of youth power, AI, and global trade in driving India's growth and achieving the Viksit Bharat vision. The Minister called for collaborative efforts from entrepreneurs, industry leaders, MSMEs, farmers, exporters, and fishermen to contribute to this vision, targeting a developed economy by 2047.
**Key Points / Main Content**
* **India's Growth Drivers:**
* India's talent, technology, and entrepreneurship will drive the next phase of growth.
* Youth and human capital are at the heart of the nation's growth story.
* AI, FTAs, and youth leadership are key to the Viksit Bharat vision.
* **Artificial Intelligence:**
* AI will transform jobs, not eliminate them.
* AI is the next inflection point, creating better opportunities, higher-value work, stronger exports, and deeper global integration.
* AI will increase demand for skilled professionals in areas like cybersecurity, data protection, and system governance.
* **Global Trade:**
* India has concluded nine Free Trade Agreements covering 38 nations.
* These FTAs provide Indian businesses preferential access to nearly two-thirds of global trade.
* The agreements will help Indian goods, services, agricultural and fisheries products, and labour-intensive sectors reach new markets.
* **Self-Reliance and Global Engagement:**
* Aatmanirbhar Bharat focuses on building resilient, trusted, and diversified supply chains through global engagement.
* **Call to Action:**
* Entrepreneurs and industry leaders are urged to take global opportunities.
* Stakeholders should work collectively to realise the vision of Viksit Bharat.
**Impact Analysis**
**Entrepreneurs and Industry Leaders**
* **Impact:** Encouraged to leverage global opportunities and contribute to India's growth.
* **Action Required:** Explore and capitalize on global trade opportunities for MSMEs, farmers, exporters, and fishermen.
**MSMEs, Farmers, Exporters, and Fishermen**
* **Impact:** Potential beneficiaries of expanded global trade access and opportunities.
* **Action Required:** Identify and pursue new markets and partnerships facilitated by FTAs.
**India's Youth and Skilled Professionals**
* **Impact:** Opportunities for high-value work, career growth, and global integration, especially in AI-related fields.
* **Action Required:** Develop skills in areas like AI, cybersecurity, data protection, and system governance to meet evolving demands.
**All Stakeholders**
* **Impact:** Collective responsibility in achieving the Viksit Bharat vision by 2047.
* **Action Required:** Work collaboratively to realise the vision of Viksit Bharat.
Key Entities Referenced
Piyush Goyal: Union Minister of Commerce and Industry, delivering a keynote address at the EY Entrepreneur Of The Year Awards
Ministry of Commerce & Industry: The ministry under which Piyush Goyal operates.
EY Entrepreneur Of The Year Awards: Annual awards event focusing on entrepreneurship
Viksit Bharat: A vision for India's development, emphasized by Shri Piyush Goyal.
Mumbai: The location where the EY Entrepreneur Of The Year Awards took place.
Ministry of Commerce & Industry
Union Minister of Commerce and Industry Piyush
Goyal Highlights Youth Power, AI and Global
Trade While Giving Away the EY Entrepreneur Of
The Year Awards in Mumbai
India’s talent, technology and entrepreneurship to drive next
phase of growth: Union Commerce and Industry Minister
AI, FTAs and youth leadership key to Viksit Bharat vision: Shri
Piyush Goyal
Posted On: 25 FEB 2026 10:32PM by PIB Mumbai
Mumbai, 25 February 2026
Union Minister of Commerce and Industry Shri Piyush Goyal delivered the keynote address at
the 27th edition of the EY Entrepreneur Of The Year Awards, in Mumbai today evening. The
Union Minister gave away the awards in the program that brought together leading
entrepreneurs, industry captains and startup founders from across the country.
Addressing the gathering, Shri Goyal underscored that India’s youth and human capital are at
the heart of the nation’s growth story. Reflecting on interactions with founders and business
leaders, the Union Commerce and Industry Minister said that passion, innovation and skilledmanpower are India’s biggest competitive advantages. Referring to the recently concluded AI
Summit in New Delhi, the Union Minister stated, the global response demonstrated the depth
and maturity of India’s innovation ecosystem and technological capabilities.
On concerns around Artificial Intelligence and employment, Shri Goyal said, AI would transform
jobs rather than eliminate them. He noted that India produces around 2.3 million STEM
graduates every year and possesses an unmatched pool of young, adaptable and ambitious
talent. Drawing parallels with the Y2K era, he described AI as the next inflection point that will
create better opportunities, higher-value work, stronger exports and deeper global integration
for Indian businesses, while also increasing demand for skilled professionals in areas such as
cybersecurity, data protection and system governance.
The Union Commerce and Industry Minister also highlighted India’s expanding global trade
footprint, stating that the country has concluded nine Free Trade Agreements covering 38
nations, giving Indian businesses preferential access to nearly two-thirds of global trade. These
agreements, will help Indian goods, services, agricultural and fisheries products, and labour-
intensive sectors reach new markets, integrate into global value chains and enhance talent
mobility, he further stated.
Emphasising that self-reliance does not mean isolation, Shri Goyal said, Aatmanirbhar Bharat is
about building resilient, trusted and diversified supply chains through global engagement.
Calling upon entrepreneurs and industry leaders to take global opportunities to MSMEs, farmers,
exporters and fishermen across the country, Union Minister Shri Goyal expressed confidence
that young India will lead the nation through Amrit Kaal towards becoming a developed
economy by 2047.Congratulating the award winners, Shri Goyal said India’s growth journey will continue
relentlessly, powered by its entrepreneurs and youth, and urged all stakeholders to work
collectively to realise the vision of Viksit Bharat.
* * *
PIB Mumbai | Sriyanka Chatterjee/Darshana Rane
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