India aims for equity and balance when negotiating FTAs: Piyush Goyal

MUMBAI — India looks for equity, balance and fair trade when negotiating a Free Trade Agreement (FTA) with countries, the government said on Tuesday.

Speaking at the 27th CITIC CLSA India Forum here, Union Commerce and Industry Minister Piyush Goyal said India enters into FTAs with countries which are transparent, open and where governments’ economic systems align with India.

Minister Goyal asserted that fulfilling basic amenities of citizens has been the government’s priority for the last decade, empowering Indians to aspire big, ensuring that India uses the 4D advantage of Democracy, Demographic Dividend, Demand and Decisive Leadership led by Prime Minister Narendra Modi.

Urging participants at the forum to continue investing in the country, the minister spoke about the opportunities India provides as it grows towards becoming a ‘Viksit Bharat’ by 2047, making it the best business destination for the world.

On a question on skill development in the country, the minister stated that the PM Modi-led government has announced five schemes worth $30 billion in the Budget 2024.

“In the years to come, the government’s focus will be on allowing youth to curate their formal education as per their desires and move into a vocation of their choice. CSR spending in skill development will also enhance the progress in the years to come,” Goyal said.

He further stated that in the last 10 years, the government’s efforts have been towards a complete saturation of every person, every child, every family in the country, so that nobody is deprived of basic needs like food, clothing, shelter, healthcare and education.

“Once you are confident that all of these are well taken care of, it empowers you to dream big, to dream big, to aspire for all the good things of life,” the minister told the gathering.