Union Commerce and Industry Minister Piyush Goyal has given positive indications of resuming strategic and trade engagement with China. During a session organized at the Bloomberg New Economy Forum, he clarified that the doors are always open for India to do trade with all the nations of the world, provided the terms of trade are fair and the geopolitical conditions remain completely stable.
Supply Chain and China-India Relations
In a panel discussion organized on the topic of supply chain strengthening and technology partnership, the Union Minister said that work is going on to give a better direction to the relations between India and China, although the final phase of this process is yet to be decided.
Strong partnership between India and America
The Union Minister described the bilateral relations between India and America as very deep and strategic. He said that this partnership between the two countries is not limited to just ordinary trade but extends to defence, advanced technology, mining of important minerals and people-to-people ties.
Will US-India relations become stronger in future?
Piyush Goyal expressed confidence that relations between India and America will become stronger in the coming times. He underlined that the economic, political and security interests of both the countries provide a strong foundation to these relations. Despite the changing political landscape, this partnership will remain vital to global stability and economic growth.
Why are countries developing their own technology and supply chains?
Talking about technological self-reliance, the Union Minister said that in the current global scenario, various countries are focusing on developing their own technology and equipment supply chains. In such a situation, mutual cooperation between trusted partner countries becomes essential. Capabilities concentrated in a few countries are not easy to replicate, so countries will have to work together to make global supply chains stronger and safer.
Self-reliance, global cooperation and new global partners
Minister Piyush Goyal said that India does not want to remain isolated from the world, but wants to establish an ideal balance between self-reliance and efficiency in important sectors. This goal will be achieved only through strong and trustworthy international partnerships.
On this global platform:
Singapore: Singapore’s Deputy Prime Minister Gan Kim Yong said that Singapore is working with India to strengthen the semiconductor industry.
Canada: Canada’s International Trade Minister Manvinder Sidhu informed that Canada is negotiating an important trade agreement with India and Canada’s energy resources can be helpful in meeting India’s growing energy needs.
