Daijiworld Media Network – Berlin

Berlin, Oct 24: Union Minister for Commerce and Industry Piyush Goyal, speaking at the prestigious Berlin Global Dialogue, said India cannot afford to remain isolated if it wants to achieve the vision of becoming a developed nation.

Addressing global leaders, Goyal highlighted how India’s trade policy underwent a major shift in 2021 after the disruptions caused by the COVID-19 pandemic. He said the crisis became an opportunity for India to rethink its global trade relations and align more closely with trusted partners.

“If we have to be a developed nation, living in isolation will not do any good. COVID gave us a chance to reflect on how we can expand relations with trusted partners. Earlier, India used to do trade deals with its competitors,” Goyal said.

He explained that India’s new trade approach focuses on collaboration with developed countries that can contribute to India’s priorities through technology, investments, and open market access. “In 2021, we reviewed our trade arrangements and decided to integrate with developed countries that would help us in our priorities, bring in technology, investment, and open other markets for Indian products,” he added.

Goyal made it clear that India’s trade policy is guided by national interest and resilience. “If there’s tariff on us, there’s tariff on us. We won’t negotiate under pressure or compromise on our principles. Instead, we will look for new markets and strengthen domestic demand,” he said.

Affirming India’s independent stance, the Minister stated, “If somebody tells me tomorrow we can’t be friends with the EU, it’s not acceptable,” underlining that India’s alliances are based on sovereign priorities and long-term trust.

Taking a strong stand against what he called “double standards” in global trade, Goyal criticised the European Union for its contradictory policies. Referring to Germany seeking sanction exemptions for its Rosneft facilities, he questioned, “Why single out India then?”

He also pointed to the EU’s internal challenges, saying its excessive regulations are harming business growth. “The EU has too many internal regulations. If these hurdles persist, European businesses could face an existential problem,” Goyal warned.

Calling for fairness and reform in global trade practices, Goyal said India will continue to pursue balanced partnerships, strengthen its economy, and uphold its national interests on the world stage.