Indian Minister of Commerce and Industry Piyush Goyal emphasised the need for reciprocal market access for Indian products at a series of bilateral talks with several countries on the sidelines of the G20 Ministerial on Tradeand Digital Economy in Japan’s Tsukuba recently. The countries include China, France, Singapore, Canada, South Africa and Australia.
Goyal said the slowdown in global trade and investment is of serious concern to all as it adversely affects economic growth, development and job creation. He called for de-escalating trade tensions and reviving confidence in the World Trade Organisation (WTO), according to an official statement.
The Commerce Minister said that while India is committed to working towards building free trade, that is inclusive and development centric to bring prosperity to people around the world, focus on the imperatives of meeting the US sustainable development goals (SDGs) and eliminating poverty and deprivation must not be lost. He said greater participation of micro, small and medium enterprises is needed in developing countries, both in domestic and global trade, because they are crucial for jobs and income generation.