Piyush Goyal urges Indian industry to leverage FTAs for global impact

He also laid thrust on ensuring qualities of products to enhance India's global competitiveness.

"Had an excellent interaction with the Managing Committee and Senior Members of @ASSOCHAM4India in Mumbai. Speaking at the session on 'Creating Impact Globally - Towards a Viksit Bharat', I urged industry to tap the vast global opportunities that India's recent FTAs have opened up. Also emphasised on the importance of quality in further enhancing our global competitiveness," the union minister posted on the social media platform 'X'.

Addressing the session, Piyush Goyal said that if India gets a good trade deal, the country will go ahead with it. "If not, we won't," the Minister stated.

"India always keeps its interests first," he added.

Talking to reporters after the event, the Minister said he has already mentioned that the government will not negotiate through media but in the negotiating room.

"Talks are ongoing, and once the team is back, we will get feedback on the response and the progress."

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 these are communicated.

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 alleged 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. (ANI)