India Embraces Free and Fair Trade Opportunities with China, Says Piyush Goyal
India is actively seeking to enhance its trade relations with China and the ASEAN region, according to Commerce and Industry Minister Piyush Goyal. Speaking to reporters, Goyal expressed India’s commitment to promoting free and fair trade, emphasizing the country’s desire to expand exports of goods and services. He indicated that India is open to reciprocal trade agreements, particularly following recent discussions with the European Union.
Goyal highlighted his meetings with his Chinese counterpart earlier this year in Cameroon and during the BRICS summit in New Delhi. He reiterated India’s stance on open markets, stating, “We are open to working and encouraging free and fair trade with every country around the globe.” He also mentioned that India welcomes suppliers to meet its growing needs, reinforcing the importance of fair pricing in trade relations.
Regarding China’s recent export controls on tunneling equipment, which could affect infrastructure projects in India, Goyal acknowledged the issue and stated that the government would address it. He noted that China has become India’s largest trading partner, with bilateral trade increasing by 10.5% to $91.8 billion in the first half of the current fiscal year, despite a widening trade deficit.
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