Trade strategy: India pushes ‘self-reliance’ and ‘resilient supply chains’; Piyush Goyal warns against weaponisation
Speaking at the curtain-raiser of the CII Partnership Summit to be held in November at Visakhapatnam, Goyal stressed that India’s approach rests on three key principles — atma-nirbharta (self-reliance), building capabilities, and creating supply and value chains with end-to-end assurance, PTI reported.“In this new geopolitical and geo-economic order, India is working on self-reliance.
We are building capabilities, supply chains, and value chains which can give us an end-to-end assurance that we will not be subject to any weaponisation of trade and will always be in a position to meet our international obligations,” he said, PTI quoted him as saying.The remarks come amid heightened trade turbulence following the US decision to impose steep 50% tariffs on Indian goods entering its markets from August 27.Goyal also underlined that India continues to provide huge opportunities for global investors despite volatility in world trade.At the same event, Andhra Pradesh Chief Minister N Chandrababu Naidu invited investors to explore opportunities at the upcoming summit.
He said the state is working on ambitious projects across space, electronics, drones, and aerospace sectors.Naidu announced that Amaravati will launch India’s first quantum valley by January next year, while Google is setting up its “world’s best” data centre in Visakhapatnam.
He also said ArcelorMittal Nippon Steel India plans to invest Rs 1.35 lakh crore in a steel plant, while BPCL is eyeing around Rs 1 lakh crore for petrochemical projects.The chief minister added that the state is pushing for renewable energy, green hydrogen, world-class ports, and logistics hubs, alongside boosting tourism.
