India’s Careful Approach to Trade Negotiations

India’s Careful Approach to Trade Negotiations Union Minister Shri Piyush Goyal highlights the meticulous process involved in trade negotiations, emphasizing that India refrains from hastening such agreements due to their long-term impact on the country’s economy.

India’s Careful Approach to Trade Negotiations

Prioritizing Fairness and Equity in FTAs

Shri Goyal underscores the importance of extensive stakeholder consultations and inter-ministerial meetings in ensuring that Free Trade Agreements (FTAs) are fair, equitable, and balanced, reflecting India’s careful and calibrated approach.

Upholding WTO Principles at MC13

Ahead of the WTO Ministerial Conference 13 (MC13), Shri Goyal expresses India’s commitment to safeguarding the guiding principles of the World Trade Organization (WTO), emphasizing the organization’s crucial role in maintaining a fair and robust multilateral trading system.

Addressing CBAM Concerns

• Shri Goyal voices India’s concerns regarding the European Union’s (EU) Carbon Border Adjustment Mechanism (CBAM).
• Pledging to address the issue both within the WTO framework and through bilateral discussions with the EU, aiming to turn challenges into opportunities.

India’s Competitive Edge and Global Engagement

• Emphasizing India’s willingness to engage with the global community.
• Shri Goyal highlights the nation’s potential to become a competitive player in global value chains while remaining self-reliant.
• He envisions India as a premier destination for investments, leveraging its large domestic market and innovative capabilities.

Government’s Development Initiatives

• Under the leadership of Prime Minister Narendra Modi, Shri Goyal outlines the government’s multifaceted initiatives aimed at public welfare,
• Including food security, healthcare, education, housing, and infrastructure.
• Initiatives, like Make in India, Startup India, and Digital India, are highlighted as key drivers of India’s rapid economic growth and development trajectory.

Transformative Vision for India’s Future

Shri Goyal reiterates the government’s commitment to transforming India into a developed nation with strong macroeconomic fundamentals by 2047. Initiatives promoting private and public investment in infrastructure and manufacturing are emphasized as critical steps towards realizing this vision.