Speaking at BS Manthan, Business Standard’s flagship event, Goyal said the visit of a delegation led by India’s chief trade negotiator to Washington DC had been deferred following the US Supreme Court’s decision to strike down tariffs imposed by President Donald Trump.
“Discussions with the US will restart when there is more clarity on the overall situation,” he said.
Goyal also said the government is in consultations with industry on the possibility of easing investment norms for Chinese companies, signalling a potential shift in policy that has been restrictive since 2020.
“We are in dialogue with industry. We have an open mind on how we can attract more technology and investment from China. It is an evolving situation and we are open to newer ideas,” he said.
He underscored that Press Note 3 — which mandates prior government approval for investments from countries sharing a land border with India — had been introduced to prevent “opportunistic takeovers” of Indian firms when valuations were depressed during the Covid-19 pandemic.
The comments suggest a calibrated approach, balancing security concerns with the need for capital, technology and scale as India positions itself as an alternative manufacturing hub in global supply chains.
Separately, Goyal said the first round of negotiations for a proposed free trade agreement between India and Israel is currently under way in New Delhi.
(Edited by : Ajay Vaishnav)
