Amid the ongoing global turmoil in the wake of US President Donald Trump’s trade tariffs, Commerce Minister Piyush Goyal said India remains poised to grasp the opportunities that will open up in the quest for balance and order in the world economy.
Delivering a keynote address at a curtain-raiser to India Global Forum’s 'NXT25: Leading the Leap' summit in Mumbai this week, the senior minister dismissed talk of “deglobalisation” in favour of a “re-globalisation” which would see India’s rules-based approach to trade eventually triumph.
Minister Goyal said: “Unless we restore balance and order, I see the world facing even more turbulent conditions or multilateral systems coming under threat. Therefore, it’s appropriate that the India Global Forum has brought all of us together to discuss areas of mutual interest.
“All well-meaning countries and businesses will have to address this challenge. India is well poised to convert the current situation into opportunity. We need to support each other and have a nationalist outlook.”
He then articulated India's ambitious trade strategy and investment opportunities in a candid fireside chat with Bloomberg TV’s Haslinda Amin themed ‘India’s Next Leap – Driving Global Trade, Innovation, and Investment’.
When questioned about the phrase ‘deglobalisation’, he said: “This is re-globalisation. With honest terms of trade and countries which believe in the rule of law, like India, work in partnership with likeminded nations who would like to have similar frameworks. There might be some turmoil in the short term, but as I mentioned, India believes in converting opportunities.”
The exclusive event at the Jio World Convention Centre in India’s financial capital brought together top global CEOs, investors, and policymakers to discuss the future of India's role in global commerce and industry. In his welcome remarks, IGF Founder and Chairman Manoj Ladwa said: “At India Global Forum, it’s not just an event, we are a movement. A movement where the spirit of global connection thrives.”
The IGF Leaders’ Dinner set the stage for the summit, where discussions will focus on how India can lead the next phase of global economic transformation. In a conversation themed, ‘Trade, Tariffs & Turbulence – Navigating a Shifting Global Order’ Dr Vijay Chauthaiwale (In-Charge, Foreign Affairs Department, Bharatiya Janata Party, India) spoke on Reciprocal Tariffs.
During ‘India NXT: A Blueprint for Bharat’, Dhruv Goyal, CEO of FourLion Capital, moderated a high-impact conversation with next-gen business leaders including Jay Kotak, Laksh Vaaman Sehgal, Parth Jindal, and Harsh Jain.
It followed a high-level closed-door investors’ roundtable to explore how India could navigate the shifting tides of global trade and investment with protectionism on the rise and markets bracing for uncertainty.
*Info: India Global Forum
