India’s foreign trade is in comfortable position and the time has come for India to engage more with the world, Commerce and Industry Minister Piyush Goyal said on Saturday.
The minister called upon the captains of Indian industry to set ambitious targets as the economy is poised for a sustained spell of rapid growth.
Addressing the 5th Meeting of the CII National Council in New Delhi, he said the industry has a huge role to play in the uplift of the poor and underprivileged, according to a release by the Commerce and Industry Ministry.
“If we (don’t) open our autos or spirits sectors, for example, it will open greater opportunities for India than the other way round,” the minister was quoted as saying in the release.
Right now, he said, India is engaged in FTA negotiations with six-seven countries.
Citing India’s foreign trade as “very, very comfortable” and seeking accommodation in trade deals, Goyal said, “On our part, I believe, that it’s time that we engage more with the world”.
He called upon the industry to have a greater appetite for taking risks, to invest in industries that may be less profitable at the start, but are labour oriented and create lakhs of jobs.
“Apna time aa gya (Our time has come) This is the time to be in India and invest in India”, he added.
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