PM Modi wants India to negotiate trade deals from 'a position of strength,' says Piyush Goyal

At the News18 Rising Bharat Summit 2026, the Commerce Minister says India engaged 38 developed economies since 2021-22 while safeguarding MSMEs, farmers and fishermen.

Prime Minister Narendra Modi’s clear strategy was that India must negotiate trade agreements 'from a position of strength,' Commerce and Industry Minister Piyush Goyal said.

Speaking at the News18 Rising Bharat Summit 2026, Goyal said the strategy since 2021-22 has been to build leverage first, by expanding partnerships and strengthening domestic sectors, before closing major trade deals.

Goyal said the government deliberately engaged developed nations after 2021-22 to construct “robust win-win situations” with trading partners.

“Keeping the strategy, we covered 38 well-developed economies,” he said, describing the outreach as part of a calibrated effort to deepen international trade ties while protecting India’s core interests.

Even as India widened its trade footprint, Goyal said vulnerable domestic constituencies were safeguarded. “We have protected our MSMEs, fishermen, farmers,” he said.

He also reiterated that India has emerged as a voice of the global south, positioning its trade diplomacy within a broader geopolitical narrative.

On the proposed India-US trade deal, Goyal said discussions are ongoing. “This is an evolving situation. We are in dialogue with the US administration,” he said.

He added that India will 'wait and watch' and ensure its interests are protected, signalling caution rather than haste. No timeline was indicated.