Government holds wide Free trade agreements (FTA) talks to protect domestic industry: Union Minister of Commerce & Industry, Mr. Piyush Goyal

Union Minister of Commerce & Industry, Mr. Piyush Goyal stated on Monday that the government conducts extensive stakeholder consultations before finalising any Free Trade Agreements (FTAs), ensuring that both offensive and defensive interests of Indian industry are addressed. Speaking at an event marking the third anniversary of Vanijya Bhawan, he emphasised that FTAs are pursued with trading partners whose economies complement, rather than compete with, India’s. He reaffirmed that future FTAs would continue to prioritise national and public interests, with industry concerns carefully considered throughout the negotiation process.
Reflecting on the significance of Vanijya Bhawan, he described it as a symbol of modern, efficient and integrated governance, representing the dynamic transformation of India’s commerce and industry landscape over the past 11 years. He highlighted the Government e-Marketplace (GeM) as a significant change in public procurement, enabling broader participation from entrepreneurs across India, including those in remote regions. E-commerce, he noted, has become a powerful mechanism for price discovery and integration of local producers into national supply chains. He also stressed the importance of collective responsibility within the ministry, calling for improved internal efficiencies—including a 50% reduction in housekeeping staff by the same time next year as part of a broader push for operational excellence.

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