AI, Technology and Innovation to Power India’s Growth: Piyush Goyal

Artificial Intelligence, technology, and innovation will be the central pillars of India’s growth journey in the coming decades, Union Commerce and Industry Minister Piyush Goyal said on Wednesday while addressing the 58th Convocation of the Indian Institute of Foreign Trade (IIFT) in New Delhi.

Congratulating the 709 students graduating this year, Goyal called the ceremony a moment of celebration and reflection, as young professionals prepare to enter a complex and uncertain global environment. He urged the students to leverage their skills, agility, and vision to help transform India into a developed nation — Viksit Bharat 2047.

“The world is experiencing volatility, uncertainty, complexity, and ambiguity. Yet, India’s youth embody boldness, vision, and the ability to execute — qualities essential to building Viksit Bharat,” Goyal said. He expressed confidence that the graduating class would succeed through hard work and resilience, noting that their individual progress would ultimately contribute to the nation’s rise.

The minister highlighted the government’s vision under Prime Minister Narendra Modi, emphasizing sustainability, inclusiveness, and innovation-driven growth. He underlined the transformative role of AI, robotics, machine learning, quantum computing, and other emerging technologies across manufacturing, healthcare, agriculture, and education. With India producing 2.3 million STEM graduates annually, Goyal said the country is well-positioned to reduce dependence on foreign technology and strengthen its global leadership in advanced sectors.

Citing India’s robust economic fundamentals, low inflation, and status as the world’s fastest-growing large economy, Goyal pointed to the increasing interest of multinational companies — with over 2,500 already operating in India. He encouraged students to continue upskilling, embrace global megatrends, and pursue big aspirations.

Recounting his experience of running a skill development centre in Mumbai with CII, NSDC, Kyndryl, and IBM, he said students from modest backgrounds were quick to adapt to technologies such as cybersecurity — a reflection of India’s innate ability to embrace innovation. He reiterated Modi’s vision of self-reliance in deep tech, operating systems, cybersecurity, and AI, asserting that India must aim for global primacy in technology.

Commerce Secretary and IIFT Chancellor Sunil Barthwal, who presided over the event, emphasized resilience, adaptability, and ethical leadership as critical qualities for future leaders. He said IIFT has a crucial role in preparing graduates to navigate global trade complexities, adding that every step forward in their careers will add to Bharat’s progress.

Both leaders urged students to dream big, aspire beyond the ordinary, and align their ambitions with the country’s larger goals. “There is no power on earth that can stop you from achieving your dreams and making your families, institute, and nation proud,” Goyal told the graduating class.