FTAs: Goyal says India shaping free trade agreements prioritising domestic industries; addressing their 'concerns and needs'
Commerce and Industry Minister Piyush Goyal affirmed that India's free trade agreements (FTAs) prioritize domestic industry interests through extensive stakeholder consultations, carefully balancing offensive and defensive needs. He emphasized pursuing trade pacts with complementary economies, ensuring national and public interests are upheld.
Commerce and industry minister
Piyush Goyal
on Monday said India is shaping its free trade agreements (FTAs) considering the interests of domestic industry, holding extensive consultations with stakeholders.
Speaking at an event to mark the third anniversary of Vanijya Bhawan in New Delhi, Goyal stressed that both the offensive and defensive needs of Indian industries are being considered while engaging with potential trade partners.
'We do all our FTAs after holding extensive stakeholder consultations and meetings. We address their (industries) concerns and needs,' PTI cited the minister.
Goyal further noted that India is pursuing trade pacts with countries that complement, rather than compete with, its economy.
'Going forward also, we will do FTAs which will keep in mind national and public interests,' he added.
The minister also used the occasion to reflect on the significance of Vanijya Bhawan, calling it a symbol of modern and integrated governance. He said the building represents a broader vision of India's commercial evolution over the past decade.
He said the event was more than just marking the anniversary of a physical building, it was a celebration of a transformative vision that has driven the nation's progress over the last 11 years.
He highlighted how platforms like the Government e-Marketplace (GeM) have opened up public procurement to entrepreneurs across India, including those from remote areas. 'E-commerce today provides mechanisms to discover the best price and bring producers from every corner into national supply chains,' he added.
Addressing staff, Goyal also stressed upon the importance of collective responsibility within the ministry. Urging a cleaner and more efficient workplace, he said, 'by next year, same time, our house keeping staff should be 50 per cent of what it is today.'
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