Key facts
- India's Commerce and Industry Minister Piyush Goyal is visiting Switzerland to discuss the implementation of the India-EFTA trade pact.
- Goyal stated that India, like other nations, protects its domestic industries from unfair trade practices and predatory pricing.
- He emphasized India's commitment to dialogue and cooperation in addressing global trade challenges.
- Discussions are ongoing regarding investments under the EFTA free trade agreement.
- India is working to foster innovation and research by creating a supportive ecosystem and updating intellectual property rights laws.
India's Commerce and Industry Minister Piyush Goyal is visiting Switzerland to discuss the implementation of the India-EFTA trade and economic partnership agreement (TEPA). During his visit, Goyal emphasized that India, like other nations, is committed to protecting its domestic industries from unfair trade practices and predatory pricing, while remaining open to dialogue and cooperation on global trade challenges. He noted that while some countries have introduced measures to protect specific domestic industries, global trade largely operates within a rules-based framework, though the WTO's effectiveness is currently limited, necessitating bilateral actions.