India will enter trade deals only if they’re in country’s interest: Goyal

Blitz Bureau

NEW DELHI: Union Commerce Minister Piyush Goyal on July 19 said that India will enter international trade agreements only if they serve the country’s interests. Addressing the media during an event organised by Assocham, Goyal said if India gets a good trade deal, it will go ahead with it. He said that negotiations with the US are ongoing, adding that trade deals would materialise only if these are in the country’s larger interests. “If it doesn’t happen, we will not do it. India always puts the country’s interest first,” the minister asserted.

India and the US teams have concluded the fifth round of talks for the proposed bilateral trade agreement (BTA) in Washington this week. The negotiations were held for four days in Washington, DC. India’s chief negotiator and special secretary in the Department of Commerce, Rajesh Agrawal, lead the team for negotiations.

Goyal also stated that India has huge domestic demand. “We have imports coming into the country which can be replaced by developing domestic industry to scale for high-quality production. ” He also the importance of mindset change in the micro, small and medium enterprises (MSME) sector.

Goyal called for a shift towards collective growth and mutual cooperation between small and large companies. “We need a change in goals, guidance and mindset. Big or small, companies have to grow together. We have to support each other and be vocal for local interests,” he highlighted. He also emphasised the need for focus on research, innovation, quality and expansion by MSMEs to compete globally.

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