Categories: Business

India to take equal proportional action if other countries impose barriers says goyal

Photo: PTI (FILE)

Commerce and industry minister

new Delhi. Union Minister of Industry and Commerce Piyush Goyal said on Friday that if a country imposes a blockage or blockage for Indian goods, India will take similar steps to protect its domestic manufacturing. Addressing the 10th meeting of the Finland Chambers of Commerce, he said that if a country continues to export low-quality products or dump products in India or by taking advantage of India's Free Trade Agreement (FTA) through its products India will take action in such cases. "Many FTA partner countries do not approve Indian goods, even if they are part of the FTA regime," Goyal warned. They prohibit non-duty or other preventive measures. Now gone are the days when India used to sit quietly watching and tolerating all this. "He said that India would have to plan its own measures whether through anti-dumping duty or some other restrictions.

"We have to take equal and proportionate measures to protect India's domestic manufacturing," he said. Goyal also said that the government is considering providing 'plug and play' infrastructure, faster clearances, more affordable finance and lower logistics costs to invite companies in India. 'Plug and Play' is a system under which companies get all the basic facilities ready in advance and they have to come and start operations directly. He said, "We want to be the preferred and trusted trading partner of countries involved in global trade and countries that believe in transparent and rule-based honest arrangements. I think Finland and India are best suited to work as partners." . " He said that the annual bilateral trade between India and Finland is $ 2.5 billion. This is a very small part of the whole inherent potential. If both countries work together, we can see a big jump in our business. Replying to a question, he said that India has rarely used export restrictions and has freely allowed the import of raw materials for export. He said that any kind of import ban is imposed after much deliberation or when Indian goods do not get proper and equal access to other markets.

This post was published on August 14, 2020 11:17 pm

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