corporate law
During his address at the 54th Convocation of the Indian Institute of Foreign Trade in New Delhi, Shri Piyush Goyal, the Minister of Commerce and Industries, emphasized the importance of free trade within a rules-based multilateral trading system, anchored on the principles of honesty and transparency. He underscored India’s readiness to respond reciprocally in situations of unfair treatment and highlighted the need to address the challenges posed by Non-Tariff Barriers in international trade.
Shri Goyal acknowledged India's momentous achievement of administering 100 crore vaccine doses, attributing this milestone to the collective efforts of 130 crore Indians. This accomplishment serves as a testament to India's commitment to 'Atmanirbhartha' and its capacity to meet global needs effectively.
He remarked on the significance of convocation ceremonies, stating they represent a pivotal transition for graduates from merely acquiring knowledge to applying it in real-world scenarios. Shri Goyal commended the Indian Institute of Foreign Trade (IIFT) for its substantial contributions to India's external trade since its inception in 1963. The institute is recognized for its robust knowledge base and consistently ranks among the top business schools in the Asia-Pacific region.
Emphasizing the necessity for proactive leadership in academia, Shri Goyal called for Indian universities to engage with prestigious global institutions. He encouraged sustained collaborations that can expose students to advancements in technology, foreign law, economics, and international trade.
To strengthen academic-industry relations, he urged institutions to promote internships within both public and private sectors. He also advocated for the exploration of online and hybrid educational models, recognizing their potential in today’s learning environment.
In his speech, Shri Goyal acknowledged that graduates are entering a world significantly altered by recent global disruptions. He urged students to adapt their thinking to this 'New Normal' by leveraging lessons learned from the pandemic. Citing his vast experience in foreign trade, he encouraged graduates to "Learn, Unlearn, Relearn, and Repeat."
Despite existing challenges, he expressed confidence in India's potential for transformation under Prime Minister Narendra Modi’s leadership. He noted India's growing role as a trusted partner in global engagements and the ongoing efforts to conclude Free Trade Agreements (FTAs) with nations such as the EU, UK, Canada, Australia, and UAE.
Shri Goyal referred to ambitious initiatives like the PM GatiShakti National Master Plan aimed at enhancing infrastructure and multimodal connectivity. He stressed the importance of focused efforts to improve infrastructure quality and productivity, stating, “A ‘Made in India’ product must be a guarantee to the world.”
Commending Prime Minister Narendra Modi's visionary leadership, he reinforced the notion that India’s strong governance, dynamic industry, and commitment to the rule of law render it a reliable partner on the global stage.
Reflecting on India's past missed opportunities, Shri Goyal expressed optimism about the future — urging a collective effort to leverage every opportunity for growth. He highlighted the need for an ambitious and dissatisfied populace, stating that such individuals are the agents of change.
As the ceremony concluded, Shri Goyal distributed several awards for excellence to graduating students, acknowledging their hard work and potential in shaping the future of India.