Union Commerce and Industry Minister Piyush Goyal on Thursday (October 16) said India’s active trade dialogue with the US, EU, Chile, Peru, New Zealand, and Oman is a testament to the country’s status as a favoured and preferred destination for investment and bilateral trade.Speaking to the media at the sidelines of the India-Brazil Business Dialogue in New Delhi, Goyal said he had discussions with Brazil’s Vice-President Geraldo Alckmin for the expansion of India’s Preferential Trade Agreement (PTA) with the MERCOSUR trading bloc to penetrate the South American market in a bigger way.Responding to a question on whether the India-Brazil relationship becomes more strategic in view of US tariffs, he said the friendship isn’t determined by other factors.
Also Read: Piyush Goyal to discuss India-UK FTA implementation with British counterpart during London visitDuring the event, Terms of Reference (ToR) for the India-Brazil Business Leaders Forum between FICCI and CNI were exchanged, which the Minister described as an important milestone in institutionalising the India-Brazil business partnership and creating new avenues for cooperation in sectors such as infrastructure, renewable energy, healthcare, and innovation.Stating that both sides are committed to focusing on advancing trade, investment, and technology partnerships, he said that India is likely to remain the fastest-growing major economy for the next 20 years on the pillars of strong macroeconomic fundamentals, modern infrastructure, and an improved quality of life.Also Read: India-UK free trade pact provides stability, predictability to business: Piyush Goyal in London
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