Exports have shown a good turnaround: Piyush Goyal

Piyush Goyal, Minister for Commerce & Industry and Railways, Govt of India asserted that Indian products deserve a fair access to other countries before those countries can freely access the Indian market. “India wants reciprocal trade with other countries,” he added. Addressing the inaugural of ‘India Virtual FMCG Supply Chain,’ organized by FICCI, Mr Goyal said, “Countries should, in a phased manner, look at sourcing from India, developing their products in India and then encash the large business opportunity that 1.3 billion Indian people offer.”

Goyal further said that it is time that the Indian industry stood up as one and ensure that we get a level playing field. “Our government will stand shoulder-to-shoulder with industries in their efforts to become more competitive and engage with the world on equal & fair terms. We are moving towards balanced trade,” he said. Urging the Indian industry to support and work together towards a prosperous India in the long run, Mr Goyal said, “We shall ensure that any unfair treatment to Indian industries will be taken up at the highest level.”

He further added that we have good green shoots visible in the economy and exports have shown a good turnaround. “Our balance of payments is going to be very strong this year. We need to ensure that India brings back the economic activity very quickly,” Mr Goyal stressed. Highlighting the importance of India in the global supply chain, Mr Goyal said that the work that we are doing will help us re-position India’s growth in local and global supply chains. “India can be a part of global supply chains, provide work opportunities to millions of people and enable them to become a part of our growing engagement with the world. Business continuity will depend on how quickly businesses adapt & become more and more prudent,” he added.