India wants equitable terms in our trade relations with various countries: Goyal

Union Minister Piyush Goyal on Tuesday called for greater cooperation among various nations to realise the huge growth prospects in the Indian Ocean region and also for tackling the important issue of climate change

He said India has contributed the least to global warming, but is still being very responsible on fossil fuels, while the western world is not doing enough even after accounting for more than half of the carbon emissions.

Speaking at the World Economic Forum (WEF) annual meeting in Davos, Goyal said India is committed to safeguarding the interest of its people while welcoming investors from across the world by making regulations easier for them.

Trade cannot be dictated by diplomacy: Goyal

Goyal said the RCEP in its present form was clearly an unworkable agreement. “Any pact needs to take into account several factors. India is grappling with a huge trade deficit, particularly with China and many other nations in the region,” he said.

For the first time, India demonstrated that trade cannot be dictated by diplomacy, Goyal said, referring to India’s decision to pull out of the RCEP.

The Hindu Businessline
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