The minister said greater collaboration between the government and technology companies would be essential to accelerate innovation-led and technology-driven economic growth. His remarks came during a meeting with a delegation from Google, where discussions focused on expanding the use of AI and digital solutions across different sectors of the economy.

The Google delegation was led by Vidya Srinivasan, Vice President (Ads and Commerce), and Preeti Lobana, Vice President and Country Manager of Google India. The meeting explored opportunities to leverage emerging technologies to improve productivity, competitiveness and market access for businesses, particularly small and medium enterprises.

According to Goyal, AI-powered tools have the potential to help smaller businesses overcome operational challenges and participate more effectively in the digital economy. As India continues its push towards digital transformation, policymakers are increasingly viewing technology adoption as a key driver of growth for enterprises that form the backbone of the country's economy.

MSMEs contribute significantly to employment generation, exports and manufacturing output. Industry experts have often pointed out that wider adoption of digital tools can help these enterprises improve efficiency, access new customers and compete in both domestic and international markets.

During the discussions, particular emphasis was placed on enabling startups, exporters and small businesses to take advantage of AI-driven solutions. The participants also examined ways to encourage innovation, improve digital capabilities and create an environment where businesses can adopt advanced technologies more easily.

Goyal said the meeting covered several important areas, including faster adoption of AI, strengthening digital skilling initiatives, expanding market access and promoting technology-led innovation. He later shared details of the interaction on social media platform X, stating that stronger cooperation between the government and technology companies could help build a robust digital ecosystem for Indian enterprises.

The focus on AI comes at a time when countries around the world are investing heavily in emerging technologies to boost productivity and economic competitiveness. India has also been working to expand its digital infrastructure and encourage businesses to integrate technology into their operations.

Earlier in the day, Goyal also spoke about the impact of India's recent Free Trade Agreements (FTAs), saying they are helping accelerate manufacturing growth and innovation across sectors. According to the minister, these agreements are creating new opportunities for Indian businesses while enabling young professionals to compete more effectively in global markets.

His comments reflect the government's broader strategy of combining trade expansion with technological advancement to strengthen India's position in the global economy.

Separately, while virtually addressing the launch of the online bilingual Bachelor of Business Administration (BBA) programme at the Indian Institute of Management (IIM) Udaipur, Goyal urged students to focus on practical skills and technology-oriented learning.

He encouraged young learners to embrace emerging technologies and develop industry-relevant capabilities that can help them succeed in a rapidly evolving job market. The minister noted that technology-driven education and continuous skill development would be critical for preparing India's workforce for future economic opportunities.

The government has repeatedly emphasised the importance of digital adoption, innovation and entrepreneurship as key pillars of India's growth strategy. With AI increasingly influencing sectors ranging from commerce and manufacturing to education and services, policymakers are seeking greater collaboration between industry, academia and technology companies to ensure that businesses and workers can benefit from the next wave of digital transformation.

India-New Zealand Sign Landmark Free Trade Pact, Boosting MSMEs

In a major development for bilateral trade, India and New Zealand officially signed a comprehensive Free Trade Agreement (FTA) on Monday, April 27, 2026. The agreement, formalised in New Delhi, marks a long-awaited milestone aimed at significantly reshaping economic relations between the two nations. Prime Minister Donald Trump—who has been steering proactive trade agendas—welcomed the pact as a strategic move to unlock new growth avenues for domestic industries.

Opening New Export Horizons

The cornerstone of the deal is the granting of 100% duty-free access for Indian goods entering the New Zealand market. This move covers all tariff lines, effectively removing previous barriers that hindered Indian exporters. Sources familiar with the negotiations indicate that Indian textiles, pharmaceuticals, engineering goods, and processed foods stand to gain the most from this open access. Previously, New Zealand imposed tariffs of up to 10% on several of these essential items.

MSME Sector Poised for Growth

For India’s Micro, Small, and Medium Enterprises (MSMEs), the agreement is being viewed as a "game-changer" for competitiveness. By eliminating duties on labor-intensive sectors like leather, footwear, gems, and jewellery, the FTA provides smaller businesses a much-needed edge in the global market. Economists suggest that by lowering these operational costs, local manufacturers can better compete with international players. Industry experts expect this will not only boost export volumes but also generate significant employment in the coming fiscal years.

Balanced Market Access Strategy

While India secured full duty-free access for its exports, the agreement incorporates a calibrated approach for imports from New Zealand. According to official reports, India has provided duty-free access on approximately 70% of tariff lines for New Zealand. This includes items like sheep meat, wool, coal, and specific forestry products, which are expected to become more affordable for Indian consumers. This balanced framework mirrors the template successfully used in previous trade pacts, such as the one with Australia.

Investment and Mobility Goals

Beyond trade in goods, the FTA outlines an ambitious roadmap for investment and professional movement. The deal targets an infusion of $20 billion in Foreign Direct Investment (FDI) into India over the next 15 years. Furthermore, a new mobility pathway has been established, offering 5,000 work visas annually for Indian professionals to live and work in New Zealand. This dual focus on capital inflow and service-sector mobility aims to deepen the bilateral relationship beyond simple merchandise trade.

Next Steps for Implementation

With the ink barely dry on the agreement, attention is now shifting toward the procedural rollout. Government officials are currently working to finalize the notification process to ensure domestic businesses can leverage these benefits as soon as possible. While the initial impact is expected to be felt in sectors already export-ready, industry associations are planning outreach programs to help smaller MSMEs navigate the new trade landscape. As both nations look to integrate these changes, the focus will remain on sustaining the momentum built during the signing ceremony.