The statement made by him shows that India needs to acquire better trade negotiation skills because its market potential and economic growth prospects create a favorable situation for negotiation.
India Negotiates From a Position of Strength
Piyush Goyal reports that India currently holds financial assets with a total value of 4 trillion dollars. He stated that the market will expand to 35 trillion dollars when the country reaches its developed nation status. His growth assessment enables India to secure trade agreements because it establishes strong negotiation power.
He made these statements during his speech about ongoing negotiations for the India–United States trade agreement.
Farmers and the Dairy Sector Will Not Suffer Any Harm
The minister assured that the proposed India–US trade deal would not negatively affect Indian farmers or the dairy industry. He emphasized that national interests would remain protected during negotiations.
Zero Tariffs to Improve Competitiveness
According to Goyal the implementation of zero tariffs in specific sectors will improve competitive capabilities of businesses. The domestic industries will achieve growth through these measures which will maintain industry balance.
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