Union Minister of Commerce and Industry Shri Piyush Goyal Engages with Global Leaders on Trade and Investment at CII Partnership Summit in Visakhapatnam

Ministry of Commerce & Industry Union Minister of Commerce and Industry Shri Piyush Goyal Engages with Global Leaders on Trade and Investment at CII Partnership Summit in Visakhapatnam Shri Goyal Outlines Three Pillars to Strengthen Global Partnerships Posted On: 15 NOV 2025 8:48PM by PIB Delhi Union Minister of Commerce and Industry Shri Piyush Goyal engaged with several world leaders over trade and investment on the sidelines of the 30th CII Partnership Summit at Visakhapatnam on 14th November 2025. During his address at the Summit, Shri Goyal outlined three key pillars to expand global partnerships. He stated that the first pillar focuses on facilitating two-way investments by lowering trade barriers and enabling freer movement of goods, services and capital. The second pillar, he highlighted, is strengthening technology cooperation through co-development of frontier technologies and investment in high-impact innovation. The third pillar, he said, is building trust through transparent governance and predictable policy frameworks that support long-term collaboration. He also reiterated Prime Minister Shri Narendra Modi’s belief in the ancient Indian philosophy of Vasudhaiva Kutumbakam, emphasising that the world is one family. On the sidelines of the Summit, Shri Goyal held bilateral discussions with delegations from Africa, Europe, Latin America and Asia, as well as with heads of international organisations. His engagements included meetings over lunch with the Russian and Singaporean delegations. Important bilateral meetings were held with the Director-General of the World Trade Organization, the Minister of Economy of Armenia, the Minister of Commerce and Consumer Protection of Mauritius, the Minister of Industry and Commerce of Angola, the Minister of Ecological Mining Development of Venezuela, and representatives from the Kingdom of Saudi Arabia. In his meeting with the Director-General of the WTO, both sides exchanged views on the state of negotiations and reaffirmed the importance of strengthening confidence in the multilateral trading system. Shri Goyal reiterated India’s commitment to a rules-based, inclusive WTO and underscored the need for 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. Both sides agreed to maintain close consultations in the run-up to MC14.During discussions with the Armenian delegation, the Minister of Economy of Armenia expressed interest in expanding collaboration in the Gems and Jewellery sector. Shri Goyal noted the need to revitalise bilateral trade ties and proposed exploring a Joint Working Group at the Joint Secretary level, with a possible visit in the first quarter of 2026 to identify areas of trade potential. Renewable energy was highlighted by Armenia as a sector of mutual interest, while India sought cooperation in the pharmaceutical sector. The feasibility of direct flights was discussed, and India raised concerns regarding Non-Tariff Barriers faced by Indian pesticide exporters. The meeting with the Minister of Commerce and Consumer Protection of Mauritius focused on strengthening bilateral trade and investment and exploring cooperation in technology and G2G procurement of essential commodities. Both sides agreed to examine the possibility of using the G2G route for procurement of petroleum products from India. India expressed interest in increasing exports of services, including IT and tourism. The State Trading Corporation of Mauritius indicated interest in importing rice, milk powder and other products from India. Mauritius sought India’s support in reducing its subsidy burden, and India offered to share its experience with Aadhaar-based digital public infrastructure. In discussions with the Angolan Minister, both sides focused on strengthening bilateral 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. Collaboration in contract farming, food processing and joint ventures in the natural diamond industry was also explored. The meeting with the delegation from Mozambique covered cooperation in logistics, resilient supply chains, agriculture, skill development, education and the oil and gas sector. Mozambique sought India’s support in logistics development, and both sides expressed interest in working on a G2G supply chain for agricultural exports, including rice. In the meeting with the Venezuelan Minister, both sides agreed to diversify their trade basket beyond oil and gas. Discussions included cooperation in critical minerals and expanding pharmaceutical exports from India to Venezuela. The Venezuelan side also encouraged increased investment by Indian companies. The two-day CII Partnership Summit 2025, organised by the Confederation of Indian Industry in partnership with the Government of India and the Government of Andhra Pradesh, brought together policymakers, industry leaders and international partners to discuss the future of global trade and investment. *** Abhishek Dayal/ Ishita Biswas (Release ID: 2190405) Visitor Counter : 537 Read this release in: ही