Last Updated on November 13, 2026 12:10 am by INDIAN AWAAZ
Commerce Minister highlights trade agreements with 38 developed countries; identifies Andhra Pradesh as an emerging hub for advanced technologies and investment
AMN
Visakhapatnam: Union Commerce and Industry Minister Piyush Goyal has invited global investors to make India their preferred destination for manufacturing, research and development (R&D), global capability centres and emerging technologies, highlighting the country’s expanding market opportunities, competitive business environment and predictable policy framework.
Addressing the inaugural session of the 31st CII Partnership Summit in Visakhapatnam on Thursday, Goyal said India offers a combination of open markets, growing industrial capabilities and a stable policy environment, making it an attractive destination for international businesses looking to expand their global operations.
He emphasised that India has significantly strengthened its international trade partnerships in recent years, having concluded nine free trade and preferential trade agreements over the past four to four-and-a-half years. These agreements cover 38 developed countries and provide Indian businesses access to markets representing approximately $60 trillion of global gross domestic product (GDP).
The minister said these trade arrangements would create new opportunities for Indian manufacturers, exporters and service providers while strengthening the country’s integration with global value chains.
Highlighting the investment potential of Andhra Pradesh, Goyal said the state was emerging as an important destination for domestic and international investors, particularly in advanced technologies and new-age industries.
He identified drones, space technology, green hydrogen, data centres and research and development as key areas offering significant investment opportunities.
According to the minister, Visakhapatnam is gradually transforming its industrial profile, moving beyond traditional sectors such as steel towards technology-driven industries and emerging business opportunities. He also referred to the city’s resilience in dealing with recent cyclones, saying its ability to manage challenging situations demonstrated its preparedness to host major business and investment events.
Goyal said India offers a cost-competitive environment for research, design and manufacturing while providing protection for intellectual property and investments. He urged international companies to explore opportunities across India, particularly in Andhra Pradesh, and establish long-term partnerships with Indian businesses.
Calling upon domestic industry to strengthen its global competitiveness, the minister stressed the importance of sustainability, skill development and adherence to international quality standards. He said Indian companies needed to focus on building capabilities that would enable them to compete more effectively in international markets.
The 31st CII Partnership Summit, being held under the theme “Navigating the New World Order”, was inaugurated by Andhra Pradesh Chief Minister N. Chandrababu Naidu in the presence of Union Ministers Piyush Goyal and Ram Mohan Naidu and Andhra Pradesh Deputy Chief Minister Pawan Kalyan.
Representatives of governments and businesses from several countries, leading industrialists and foreign diplomats are participating in the summit, which seeks to strengthen international economic cooperation and create new avenues for investment and trade.
The Confederation of Indian Industry (CII) has called for deeper international collaboration in emerging technologies, highlighting India’s potential in sectors such as semiconductors, solar panels, battery energy storage systems, electric vehicles and large-scale agricultural value chains.
These sectors are expected to play an increasingly important role in shaping future manufacturing, clean energy and technology ecosystems.
The summit also seeks to promote partnerships between Indian and international companies, facilitate investment flows and strengthen cooperation in areas of mutual economic interest.
The discussions assume significance as India seeks to expand its manufacturing base, attract global capital and enhance its role in international supply chains amid changing geopolitical and economic conditions.
By bringing together policymakers, industry leaders and international investors, the CII Partnership Summit aims to advance the broader development objectives of Viksit Bharat and Viksit Andhra Pradesh.