At a pivotal moment for global trade after US announced their revised tariff policies for Indian export, Commerce and Industry Minister Piyush Goyal recently took the center stage and presented India’s take on it.
In an exclusive discussion with Bloomberg TV at India Global Forum(IGF) NXT25 Summit, rather than viewing the tariffs as a setback, Goyal highlighted them as a catalyst for India’s strategic shift toward manufacturing resilience and diversified global trade relations.
Key Highlights of Piyush Goyal’s Speech
On April 7, 2025, the day 1 of a two day event held at Jio Conventional Centre in Mumbai, Union Minister Piyush Goyal clearly highlighted the government’s take on the recent ‘Tariff Turmoil‘ and stated that India stands firm.
Here are the major highlights of the speech:
- Opens Door to New Trade Partnerships
During his conversation at the summit, Goyal outlined the central government’s proactive approach to deal with the recent shift in U.S. tariff policies, he takes this as an opportunity to diversify trade partnerships and to strengthen domestic manufacturing.
Goyal also emphasized that India is actively engaging with U.S. officials while reinforcing policies to boost competitiveness at home.
- Focussed on Fair Trade Practices
During his speech at the summit, Goyal also highlighted that India remains committed to fair trade while working to boost the global appeal and performance of its exports. However, he also underlined the global economic instability to China’s long-standing unfair trade practices which impacted economies of various countries, including India.
- A Shift of Focus in Startup Ecosystem
Criticizing the overemphasis on consumer-facing ventures, the Minister called on Indian entrepreneurs to focus on core technologies like semiconductors and deep tech. He underlined the importance of a diversified startup base to ensure robust and sustainable economic progress.
About IGF Nex25 Summit
India Global Forum’s flagship event has been inaugurated on April 7, 2025 at Jio Convention Centre Mumbai for the second year in the row. With the theme ‘NXT25: Leading the Leap‘ this year, this platform holds a high-profile discussion which unites leaders, creators, and innovators.
The major takeaways of the summit:
- Chief Minister Devendra Fadnavis- To unveil Maharashtra’s long-term economic vision and growth roadmap to position the state at the center of India’s global growth story.
- B-Town Celebs Imtiaz Ali, Ekta Kapoor & Fatima Sana Shaikh- To share insights on India’s evolving creative economy
- Matt Barrie, CEO, Freelancer.com- To explore the future of work & the rise of the global gig economy
- Rajeev Chandrasekhar, Former IT Minister- A deep dive into India’s startup ecosystem
