New Delhi— Union Commerce and Industry Minister Piyush Goyal stated on Monday that India is well-positioned to transform current market fluctuations into an opportunity, particularly in light of the reciprocal tariffs imposed by the United States.
Speaking at the India Global Forum in New Delhi, Goyal emphasized the need for Indian industries to prioritize national interest and convert present challenges into opportunities.
“Unless we bring in the balance of honest values, the world will continue to experience instability,” he said.
Commenting on China’s economic trajectory, Goyal asserted that the foundation of its growth was built on unfair trade practices.
“Our focus should be on restoring fairness—pricing goods and services with integrity. Without this balance, global markets will face increased turbulence,” he added.
Goyal also highlighted the close relationship between Prime Minister Narendra Modi and U.S. President Donald Trump, underlining their shared commitment to the swift finalization of a U.S.-India Bilateral Trade Agreement (BTA).
On Monday, both India and the United States reiterated their desire to conclude the agreement promptly. Negotiations have intensified following President Trump’s recent announcement of a 26 percent reciprocal tariff on Indian goods, along with a broader set of tariffs affecting nearly all U.S. trading partners.
“Exchanged perspectives on the Indo-Pacific, the Indian Subcontinent, Europe, the Middle East/West Asia, and the Caribbean,” External Affairs Minister S. Jaishankar posted on X after a call with U.S. Secretary of State Marco Rubio.
“We agreed on the importance of an early conclusion to the Bilateral Trade Agreement,” Jaishankar added. “Looking forward to staying in touch.”
President Trump imposed a 27 percent tariff on Indian imports on April 2. (Source: IANS)
