Commerce and Industry Minister Piyush Goyal, speaking at the 16th Toy Biz B2B Expo in New Delhi on Friday, reiterated that India will only enter into trade agreements that align with national interests and offer mutual benefits.
Goyal emphasised that India’s approach to international trade remains firm, principled, and rooted in self-interest. “It should be a win-win agreement, and only when India’s interests are safeguarded — national interest will always be supreme — and keeping that in mind, if a good deal is formed, India is always ready to engage with developed countries,” he said.
The minister underscored that India negotiates on its own terms and timetable. He stated that while India is currently in talks with several countries, including the US, EU, New Zealand, Oman, Chile, and Peru, the country is not under pressure to conclude deals hastily.
“A Free Trade Agreement is only possible when there is mutual benefit. India never enters into trade deals based on deadlines or time pressure. A deal is accepted only when it is fully matured, well-negotiated, and in the national interest,” Goyal affirmed.
This negotiation strategy reflects India’s growing confidence in its global economic position and its commitment to protecting domestic economic interests while remaining open to beneficial global engagement.
Focus On Toy Manufacturing Sector
During the toy expo, Minister Goyal also spoke about the potential of India’s toy manufacturing industry. He praised the quality of Indian toy products and highlighted their growing international appeal.
“I am sure with the high-quality goods I am seeing here, they will all be finding good markets in the whole Gulf region — all six countries of the Middle East — just as they are today in nearly 153 countries worldwide,” he remarked.
Goyal announced that the government is preparing new support measures for the toy sector. “We will soon be coming out also with the support program and incentive scheme to support the toy industry,” he revealed.
He stressed the vast potential of India’s domestic toy market, pointing to the country’s large population. “Considering that we have a market of 1.4 billion Indians who would like to use toys. At every age, there is a demand for toys,” he noted.
Calling it a “growing sector which has eyes on the world,” Goyal reaffirmed the government’s confidence in both the domestic and export prospects of India’s toy industry.
(From ANI)
