Union Minister of Commerce and Industry, Shri Piyush Goyal, attended a meeting of G7 Trade Ministers in Reggio Calabria, Italy. This meeting was important for discussing how countries can improve their trade relationships and work together on economic issues.
Minister Goyal also had meetings with leaders from Italy, the European Commission, New Zealand, the UK, and Germany. They talked about boosting trade, investing in industries together, and collaborating on clean technologies. Minister Goyal praised Italy for hosting a productive meeting of G7 trade ministers.
He also discussed with these leaders about ongoing negotiations for trade agreements and how India can work closely with these countries for mutual benefit. Minister Goyal highlighted the importance of building strong trade relationships with these key partners.
At the G7 meeting, Minister Goyal emphasized the need to analyze how resilient global supply chains are during times of crises like the Covid-19 pandemic and geopolitical conflicts. He talked about initiatives India is involved in to strengthen these supply chains globally, including partnerships with the US, GCC countries, and the EU.
Minister Goyal suggested that trusted countries work together to secure critical supplies like minerals, semiconductors, pharmaceuticals, and renewable energy technologies. He stressed the importance of public-private partnerships, investing in infrastructure, and having consistent regulations across countries to support strong global supply chains.
He also discussed how challenges like Covid-19, conflicts, and climate change are affecting global trade networks. Minister Goyal proposed aligning investment, trade, environmental, and energy policies to make supply chains more resilient for the future.