NEW DELHI: India is willing to have more economic engagement with China, provided business arrangements offer fair terms and geopolitical conditions remain stable, Commerce and Industry Minister Piyush Goyal said on Wednesday.
Speaking at the Bloomberg New Economy Forum in New Delhi, Goyal said, "We are open to all countries around the world as long as we get a fair deal, as long as we are ensured continuity in the engagement, and as long as the geopolitical situation does not deteriorate.” He further added, “We are working to develop the relation with China once again, but the last word has not yet been scripted on this journey. "
His remarks come amid continuing efforts by India to diversify supply chains and strengthen domestic manufacturing while navigating geopolitical uncertainties. At a time when India is trying to balance its trade relations with the Western world and build a resilient supply chain in the Global South, India focuses on expansion of economic ties under favorable circumstances.
While talking about India's trade relation with the US, Goyal assured that India is confident that the partnership would deepen further.
He said cooperation with US extended well beyond merchandise trade, encompassing defence, technology, critical minerals and people-to-people exchanges.
Goyal said the relationship served the interests of both countries and had wider global implications, supported by economic, political and security considerations. Differences in political approaches in either country would not diminish the underlying importance of the partnership, he indicated.
“I think the U.S. and India have a very, very consequential relationship, and it's only going to get better,” he said.
The minister’s comments place economic engagement with China and closer cooperation with the US within India’s broader effort to build resilient supply chains and secure access to strategic technologies.
He noted that India's relations with US is already "very good" and "substantive". However, he underscored the need for the trading nations to " start listening to each other ", rather than creating chokepoints.
