India wants equal, fair and reciprocal trade with the world: Piyush Goyal
India wants to protect its industries so that they can get a fair play and access.
Union Minister of Commerce and Industry Piyush Goyal said India is looking at establishing fair and equitable trade relationship with countries to ensure that Indian business in foreign countries are treated at par with how foreign businesses are treated in India.He also refuted the criticism by some foreigners for supporting the domestic industry and checking the imports.
“We want to protect our industries so that they can get a fair play and access,” the Commerce Minister said after inaugurating the first edition of five day long virtual FMCG Supply Chain EXPO, 2020 on Monday.
He said that India wants equal, fair and reciprocal trade with the world.
“We are moving towards balanced trade with many countries and regions. This is one the reasons why India chose not to join RCEP as it was completely inequitable arrangement,” he said
Highlighting the business opportunity that 1.3 billion people of India offers, he said countries should in a phased manner look at sourcing from India.
“Those investing in India, should not just look at assembling the Semi-knocked down kits or availing import duty concessions, but must bring technologies, best practices and do value-addition,” he said
He said the Centre will stand shoulder-to-shoulder with industries in their efforts to become more competitive and engage with the world on equal and fair terms.
“When we demand equal and reciprocal trade with the world, we have to recall the face of the poorest and the weakest man whom you may have seen and ask yourself if the step you contemplate is going to be of any use to him,” Piyush Goyal quoting Mahatma Gandhi said.
He added that over the last 6 years Prime Minister Modi has focused his attention on the underprivileged sections of the society. All his social welfare projects have been for the weakest and poorest in India.