India building self-reliance, resilient supply chains to counter weaponisation of trade: Piyush Goyal
Commerce and Industry Minister Piyush Goyal has said that India is focusing on self-reliance by building capabilities and resilient supply chains, which will help the country tackle global challenges like weaponisation of trade. Moreover, he said the government is focusing on self-confidence to achieve big goals and protect India's interests.
He stated ‘In this new geopolitical and geo economic order, India is working on three major principles - atmanirbharta or self-reliance ...we are building capabilities, supply chains, and value chains ...which can give us an end-to-end assurance that we will not be subject to any weaponisation of trade and we will be always be in a position to meet our international obligations.’
The remarks assume significance as global trade has been disrupted due to the tariff imposition by the US. The US has imposed a steep 50% tariff on Indian goods entering American markets from August 27. Further, the minister also said that India provides huge opportunities at a time when there are turbulence and volatility at global trade front.
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