India Prioritizes Strategic Trade Interests Over Chinese Investments, Piyush Goyal

Union Minister of Commerce and Industry Piyush Goyal, speaking at the Carnegie India Global Technology Summit, reaffirmed India’s firm stance on safeguarding its economic interests in the face of limited engagement with China. Stressing the “India First” policy approach, Goyal made it clear that India is not encouraging any significant Chinese foreign direct investment (FDI) and intends to align more with nations committed to fair play and transparent business practices.

#WATCH | Delhi: On China, Speaking at the Carnegie India Global Technology Summit, Union Minister of Commerce & Industry, Piyush Goyal says, "India will protect its interests. For us, it is India first. Whatever is in our interest, we will recalibrate our policy accordingly. As… pic.twitter.com/dckJQaf9Ec

— ANI (@ANI) April 11, 2025

India Prioritizes Strategic Trade Interests Over Chinese Investments: Piyush Goyal

“There is hardly any FDI from China in India, and this has been consistent over the last 25 years,” Goyal stated, adding that India’s current trade and investment policies with China are calibrated based on national interest. He emphasized that the government will continue to recalibrate its policies whenever needed, based on reciprocity, mutual trust, and mutual benefit. 

Union Minister highlights India’s shift toward developed economies 

Highlighting India’s refusal to join the Regional Comprehensive Economic Partnership (RCEP) in 2019, the Minister said that the decision has been vindicated by current global shifts. “The guiding principles of free trade were not being respected,” he noted, asserting that India's cautious and strategic stance on regional trade agreements is being increasingly acknowledged globally.

Goyal also pointed to what he called the "genesis" of the current global economic reset, tracing it back to the late 80s and 90s, when China’s entry into the World Trade Organization (WTO) was welcomed under assumptions of fair behavior—an expectation that he says was never fulfilled. He noted how several countries and industries have since faced adverse impacts due to China's trade practices.

Calling the ongoing global trade realignment a positive shift, the Minister stressed that India is now focused on deeper economic integration with developed countries that offer equal opportunities and uphold ethical standards in business.