Visakhapatnam: Union Minister of Commerce and Industry Piyush Goyal held a series of high-level engagements with global leaders on trade and investment on the sidelines of the 30th CII Partnership Summit on Friday.
Addressing the Summit, Goyal outlined three key pillars to deepen global partnerships. The first, he said, is to promote two-way investments by lowering trade barriers and encouraging freer movement of goods, services, and capital. The second focuses on technology co-operation through co-development of frontier technologies and investments in high-impact innovation. The third pillar emphasises building trust through transparent governance and predictable policy frameworks. He also reiterated Prime Minister Narendra Modi’s belief in Vasudhaiva Kutumbakam – the world is one family.
Goyal’s bilateral meetings included delegations from Africa, Europe, Latin America, and Asia, as well as heads of major international organisations. Over lunch, he met representatives from Russia and Singapore. He also held focused discussions with the Director-General of the World Trade Organization and ministers from Armenia, Mauritius, Angola, and Venezuela, as well as representatives from Saudi Arabia.
In his meeting with the WTO Director-General, both sides reviewed the state of ongoing negotiations and reaffirmed the need to strengthen confidence in the multilateral trading system. Goyal stressed India’s commitment to a rules-based and inclusive WTO, highlighting key issues such as a permanent solution on Public Stock Holding for food security, restoration of a fully functional two-tier dispute settlement system, and balanced agricultural reform, including resolution of pending Final Bound AMS entitlements of developed countries. They agreed to maintain close consultations ahead of MC14, according to a PIB release.
Talks with the Armenian delegation focused on revitalising trade ties. Armenia expressed interest in expanding co-operation in the Gems and Jewellery sector. At the same time, Goyal proposed exploring a Joint Working Group at the Joint Secretary level, with a possible visit in early 2026 to identify areas of potential. Armenia highlighted renewable energy as a sector of mutual interest, while India sought collaboration in pharmaceuticals. Both sides discussed the feasibility of direct flights, and India raised concerns over Non-Tariff Barriers affecting pesticide exporters.
In discussions with the Minister of Commerce and Consumer Protection of Mauritius, the two sides explored ways to strengthen bilateral trade and investment, including cooperation in technology and G2G procurement of essential commodities. They agreed to examine the possibility of using the G2G route for the procurement of petroleum products from India. India expressed interest in increasing exports of services such as IT and tourism. The State Trading Corporation of Mauritius indicated interest in importing rice, milk powder, and other products from India. Mauritius sought support in reducing its subsidy burden, and India offered to share its experience with Aadhaar-based digital public infrastructure.
During the meeting with the Angolan minister, both sides discussed enhancing trade and investment, particularly in agriculture, food processing, and the gems and jewellery sector. Angola sought India’s support in developing entrepreneurship in agriculture, mechanisation, and irrigation. They also explored collaboration in contract farming, food processing, and joint ventures in the natural diamond industry.
Co-operation with Mozambique is focused on logistics, resilient supply chains, agriculture, skills development, education, and the oil and gas sector. Mozambique sought India’s support in logistics development, and both sides expressed interest in establishing a government-to-government supply chain for agricultural exports, including rice.
In talks with the Venezuelan minister, both sides agreed on the need to diversify their trade basket beyond oil and gas. Discussions included cooperation in critical minerals and expanding India’s pharmaceutical exports to Venezuela. The Venezuelan side encouraged greater investment by Indian companies.
The two-day CII Partnership Summit 2025, organised by the Confederation of Indian Industry in collaboration with the government of India and the government of Andhra Pradesh, brought together policymakers, industry leaders, and international partners to deliberate on the future of global trade and investment.
