Piyush Goyal Highlights India’s Active Trade Dialogue with Multiple Nations

Union Commerce and Industry Minister Piyush Goyal on Thursday (October 16) emphasized that India’s active trade dialogue with multiple countries underscores the nation’s growing importance as a preferred destination for investment and bilateral trade. Speaking at the India-Brazil Business Dialogue in New Delhi, Goyal highlighted discussions with Brazil’s Vice-President Geraldo Alckmin on expanding India’s Preferential Trade Agreement (PTA) with the MERCOSUR trading bloc to strengthen India’s presence in South America.

India-Brazil Relations and Strategic Trade Partnerships

Responding to queries about the strategic nature of India-Brazil ties amid global trade challenges, Goyal clarified that the friendship and partnership between India and Brazil are independent of other factors, including US tariffs.

During the dialogue, the Terms of Reference (ToR) for the India-Brazil Business Leaders Forum between FICCI and CNI were exchanged, marking a key milestone in institutionalizing bilateral business cooperation. Goyal described this as a significant step toward creating new avenues for collaboration in infrastructure, renewable energy, healthcare, and innovation sectors.

Also Read: Sebi Plans to Strengthen Commodity Markets and Institutional Participation

India’s Growing Global Trade Footprint

Goyal also pointed out that India’s active engagement with countries like the US, EU, Chile, Peru, New Zealand, and Oman reflects the strong global interest in the Indian growth story. Both sides remain committed to advancing trade, investment, and technology partnerships.

Highlighting India’s robust economic fundamentals, he stated that the country is likely to remain the fastest-growing major economy over the next 20 years, supported by strong macroeconomic policies, modern infrastructure, and an improving quality of life.

Forward-Looking Trade Outlook

With the expansion of the PTA with MERCOSUR and active dialogues with multiple regions, India aims to strengthen its trade footprint globally while ensuring sustainable business growth and investor confidence. The focus remains on enhancing partnerships and creating new opportunities for industries across sectors.

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