Piyush Goyal to Attend G7 Trade Ministers' Meeting in Italy, Seek Enhanced Global Trade Partnerships

Union Commerce and Industry Minister Piyush Goyal will attend the G7 Trade Ministers' Meeting in Italy on July 16-17. He will also hold bilateral meetings to foster global trade and investment. The discussions will focus on trade cooperation and economic diplomacy, highlighting India's economic growth and business opportunities.

Union Commerce and Industry Minister Piyush Goyal is set to attend the outreach session of the G7 Trade Ministers' Meeting in Italy from July 16-17, as per an official statement. During the visit, Goyal will engage in bilateral meetings with trade ministers from G7 countries and other participating nations, reaffirming India's dedication to global trade and investment partnerships, the Ministry of Commerce & Industry announced on Saturday.

The bilateral meetings aim to explore fresh opportunities for trade and investment, resolve outstanding bilateral trade issues, and bolster economic cooperation. This visit is part of the Indian government's broader strategy to highlight the vast trade and investment potential the country offers, the ministry noted. Before his trip to Italy, Goyal will visit Switzerland on July 14-15 for business and official meetings with Swiss officials, the statement added.

The Ministry specified that discussions in Switzerland will focus on implementing the European Free Trade Association's (EFTA) Trade and Economic Partnership Agreement (TEPA). Both sides plan to outline the roadmap for investment commitments by EFTA, totaling USD 100 billion. At the G7 Trade Ministers' outreach session in Reggio Calabria, Goyal will present India's vision for global trade and supply chain resilience, emphasizing recent reforms aimed at improving business conditions and attracting foreign investments.

The Ministry also highlighted that participation in these high-level meetings will enhance India's economic diplomacy, promoting national interests on the global stage. India's rise to the world's 5th largest economy underscores its dynamic economic environment and growth potential. The country offers a favorable climate for international businesses with its market-oriented reforms, skilled workforce, and strategic location, the ministry's statement read. (ANI)

(With inputs from agencies.)