Pradeep Goyal grew up in Mumbai and completed his B Tech in metallurgical engineering at IIT Kanpur in 1978, graduating with the first rank. He was awarded a silver medal by the president of India. IIM awarded him the Best Metallurgist of the year. He completed his masters in metallurgy at MIT in 1980 with a research assistantship. After three years at Air Products and Chemicals Inc., he returned to India in 1983 to start his company Pradeep Metals Ltd. He is the chairman and managing director.

Goyal has served ASM as chair of the India Chapter (2002-2005) and trustee of ASM International (2005-2008). He was recognized as a FASM in 2015, Fellow of Alpha Sigma Mu in 2017, and awarded Distinguished Life Membership in 2021. He has organized and chaired five major materials science events and helped the India Chapter build an office and training center in Mumbai.

He serves on the boards of many corporations, including UPL Ltd., the fourth largest agrichemicals company in the world. He is a member of the Technology Development Board of India, member of the board of Indian Institute of Technology, Kanpur, IIT Bombay Research Park, and National Institute of Advanced Manufacturing Technologies. He is conducting research on a novel manufacturing process to manufacture steel using microwaves and holds several patents for process development work using microwaves.

He has served as the past president of Rotary Club of Mumbai South (2004-2005) and past assistant governor of Rotary International District 3141 (2009-2010). He is currently the chair of Ekal Abhiyan Trust, an NGO that runs over 80,000 single teacher schools in the remote tribal areas of India, providing primary education to 2.2 million children up to third grade.