Shri Piyush Goyal tells Foreign Mission that India is open to mutually benefitting collaborations with interested countries as far as the reciprocity in the deal is maintained;

Tough and appropriate role played by the PM of India is the best stimulus against the Covidcrisis and it has been appreciated in the country as well as all around the world

If any assistance in the form of medicine is required by any country from India, we will try to fulfill it.

Minister of Commerce and Industry Shri Piyush Goyal has said that India is open to mutually benefitting collaborations with interested countries as far as the reciprocity in the deal is maintained. Interacting with foreign missions in New Delhi, through Video Conference, he welcomed the interested countries who are planning to do business with India. The Minister said that India gives the most importance to ‘the fair dealing and the reciprocity’ while signing any multilateral agreements. This was the reason because of which India didn’t participate in Regional Economic Comprehensive Partnership(RECP). He advised that this is the best time to connect digitally for the planning of a road map for bilateral (or multilateral) agreements.

The Minister appealed to other countries for the collaborative efforts against the outspread of Coronavirus pandemic. He said that India is ensuring the safety and well-being of the foreign nationals currently in India. He thanked them for participating in 9-minute light off, as asked by the PM on April 5.

Shri Goyal said that the recent surveys and studies have proved that ‘the tough and appropriate role played by the PM of India during the crisis’ is the best stimulus against the crisis and it has been appreciated in the country as well as all around the world. Mentioning about many world leaders including President Trump congratulating India for exporting medicines, Shri Goyal said that Indian Pharmaceuticals Industry is playing important role in producing and delivering medicines not only to India but also for the rest of the world. Expressing confidence that India will play a leadership role in the Post- COVID world, he said that India is ensuring that no country will remain deprived of the essential medicines, especially underdeveloped countries. He assured them that if any assistance in the form of medicine is required from India, we will try to fulfill it. But in the long term, we have to make a quick roadmap for the  sustainable trade of the pharmacy sector. According to PM, as a global citizen, it is our responsibility to serve the one in need.

The Minister said that the role of Pradhan Mantri Ayushman Bharat Scheme is going to be crucial during the pandemic. He underlined the effectiveness of the immediate nationwide lockdown with a special reference to the high reduction in the rate of doubling the cases. Shri Goyal said that during this crisis, Government is forming long term strategies for the revival of the country’s economy out of the crisis.  He said that this is a time to identify the true partner for our own countries to find collaborations in the future.

Reciprocity in international collaboration: India conditions trade and cooperation agreements on fair reciprocal terms and sustainable pharma trade. India conditions bilateral and multilateral collaborations on reciprocity and fair dealing, citing those principles as the reason for non participation in the Regional Comprehensive Economic Partnership and inviting digital engagement to draft road maps for future agreements. The government links trade policy to health diplomacy by committing Indian pharmaceutical capacity to supply essential medicines internationally where feasible, while urging development of a sustainable roadmap for the pharmaceutical sector and identifying reliable international partners for long term collaboration.