Self-reliance in focus to counter weaponisation of trade: Piyush Goyal

New Delhi: India is focusing on atmanirbharta (self-reliance) by building capabilities, supply chains and value chains, which will assure that the country will not be subject to weaponisation of trade, commerce and industry minister Piyush Goyal said on Tuesday. He also said India will always be in a position to meet its international obligations.

Addressing the curtain raiser event for the 30th CII Partnership Summit to be held in Visakhapatnam in November, he said the country is working on aatmavishwas (self-confidence) and aatmaraksha (protecting Indians and larger interests of mankind).

He also said India is emerging as the preferred destination for global investment.

“In a world full of turbulence, volatility, uncertainty, India provides an oasis, an economy that is the world’s fastest growing large economy,” Goyal said, adding India provides a set of young people who are aspirational.

India’s gross domestic product (GDP) surged to a five-quarter high of 7.8% in Q1FY26.

The commerce minister also highlighted recent goods and services tax (GST) reforms. “The massive overhaul in GST will lead to tax simplification, lower tax burden on consumers and give a huge boost to consumer spending.”