India will sign trade deals only if they serve national interest, Piyush Goyal reiterates govt's stand

Union Minister of Commerce and Industry, Piyush Goyal, again reiterated the government's stand on trade deals, stating that India will enter into international trade agreements only if they serve the country's interests.

Union Minister of Commerce and Industry, while addressing the session 'Creating Global Impact Towards Viksit Bharat', organised by ASSOCHAM, said, "If India gets a good trade deal, we will go ahead with it. If not, we won't, the Minister stated firmly.

"India always keeps the country's interest first," he added.


Talking to reporters after the event, the Minister further said, "I've already mentioned that we don't negotiate through media, we negotiate in the negotiating room. Talks are ongoing, and once the team is back, we will get feedback on the response and the progress."

Speaking to the industry leaders and entrepreneurs, the Minister stressed the importance of mindset change within the Micro, Small, and Medium Enterprises (MSME) sector.

He called for a shift towards collective growth and mutual support between small and large firms. "We need targets, guidance, and a change in mindset. Big or small, firms must grow together," he added.

"We must support each other and be vocal for local," he said.

He also emphasised the importance of Micro, Small, and Medium Enterprises (MSMEs), focusing on research, innovation, quality, and scaling up to compete globally.

The Minister urged MSME stakeholders to actively inform the government about non-tariff barriers that are affecting their businesses.

Speaking to an industry player, Goyal stated that the government will address the industry's concerns and work towards resolving them only if industry players convey their concerns.

Reflecting on the broader economic framework, the Minister compared the current banking system with that under the previous UPA government.

He noted that the PM Modi-led administration had successfully restructured the banking sector.

Goyal stated that during the UPA regime, the banking sector collapsed under rising NPAs. "We have restructured it in a transparent manner. Today, the banking system is robust and performing well," the Union Minister added.