Union Commerce and Industry Minister Piyush Goyal has said that artificial intelligence, technology and innovation will be the driving forces of India’s growth story. He was addressing the 58th Convocation of the Indian Institute of Foreign Trade (IIFT) in New Delhi today.
Congratulating the graduating class of 2025, Goyal said India’s destiny lies in the capable hands of its youth. He urged students to harness their skills, agility and vision to help realise the goal of Viksit Bharat 2047.
The Minister underlined that India’s youth represent boldness, agility and vision required to navigate what he described as “VUCA” times — an era of volatility, uncertainty, complexity and ambiguity.
Highlighting the government’s vision under Prime Minister Narendra Modi, Goyal said the focus is on resilience, sustainability, inclusiveness and innovation-driven growth. He stressed that the aim is to improve quality of life, reduce poverty, bridge the rural-urban divide and promote ease of doing business and ease of living.
The Minister pointed to the transformative role of technologies such as artificial intelligence, robotics, machine learning and quantum computing across key sectors including manufacturing, agriculture, healthcare and education. With 2.3 million STEM graduates annually, India, he said, has the talent pool to reduce dependence on foreign technology and empower industries while uplifting those at the bottom of the pyramid.
Goyal recalled his experience of running a skill development centre in Mumbai where students from modest backgrounds quickly adapted to new-age technologies like cybersecurity, reflecting India’s readiness to embrace innovation. He emphasized that India’s youthful population, with an average age of 28.4 years, is its biggest strength in the journey from a $4 trillion to a $30–35 trillion economy.
Reiterating the Prime Minister’s vision of self-reliance in technology, Goyal said India must secure a leading position globally in fields such as deep tech, cybersecurity and artificial intelligence.
The Minister also underlined India’s strong macroeconomic fundamentals and its status as the fastest-growing large economy. He said over 2,500 international companies are already present in the country, reflecting growing global confidence in India’s growth story.
Encouraging the graduating students, Goyal called on them to continue learning, reskilling and engaging with global megatrends, while nurturing the lifelong friendships built at IIFT.
