Trade deals will be initialed only after safeguarding Indian interests says commerce minister Piyush Goyal
forge trade deals only after taking into consideration interests of Indian
stakeholderes including Dairy agriculture, MSME and indigenous manufacturers.
Their interests will be fully safeguarded assured Commere Minister Piyush Goyal
while addressing the students of Indian Institute of Foreign Trade through
virtual interaction on September tenth.
forthcoming trade deals will be undertaken after discussions with all the
stakeholders, and the interests of dairy, agriculture, MSMEs and indigenous
manufacturers will be properly safeguarded, he said. The Minister said that the
trade with the US is increasing rapidly, and the withdrawal of GSP by the US
has not made much impact.
United States has stalled the trade deal and the issues include market access
to US dairy products and agriculture. Now that the minister says that a limited
trade deal with United States will be through soon means India could have permitted
the entry of US dairy and agriculture products espcially apples)
India wants to do FTAs with developed
countries like the US, the UK and EU
said that India wants to do FTAs with developed countries like the US, the UK
and EU. He said that India is ready to sign a limited trade deal with the US at
the earliest. He assured that deal will entail substantive gains for the
that India had not been a gainer from the past FTA’s, the Minister said that
historical wrong will have to be corrected by our generation.
More and more countries are moving towards
balanced trade; India is not going to be a patient receiver of unfair trade
will have to engage with other countries to expand our trading relationships
but on the strength of our own competitiveness.” He said that if other countries want access
to the market of 130 crore Indians then they will have to give us equal access
to their market. India is not going to be a patient receiver of unfair trade
Our trade policies are up for debate,
discussion, review, relook & consideration by students
upon active partnership between the Ministry of Commerce and Industry and IIFT,
Mr Goyal called upon the students of IIFT to help in identification of new
products and areas of export.. He said, “Our trade policies are up for debate,
discussion, review, relook & consideration by students.I hope all of you
will deliberate on the future of Indian trade policy and how we can sail
through the COVID pandemic & come out resilient.
Indian industry’s hardwork and tenacity, Shri Goyal said that from nowhere, in
just 5 months, India has evolved in terms of becoming self-reliant in the
production of PPE kits & masks. He said that India has not only become
self-sufficient in these items, but is exporting them in large numbers.