Union Minister Piyush Goyal on Friday discussed with World Trade Organization chief Roberto Azevedo challenges in the multilateral trading system as well as India's preparedness to engage in reforms aimed at bringing inclusivity and transparency.
Goyal, who is in Davos to attend the World Economic Forum annual summit, met European Union trade commissioner Phil Hogan, former U.S. Vice President Al Gore, renowned economist and Nobel laureate Michael Spence, and Singapore's Minister-in-Charge of Trade Relations S Iswaran, among others.
He also held discussions with Blackstone Group Chairman, Chief Executive Officer and Co-Founder Stephen A Schwarzman, South Africa's Minister of Trade and Industry Ebrahim Patel and ABB Chairman and Chief Executive Officer Peter Voser, according to a series of tweets by Goyal.
Met with Roberto Azevedo, Director-General of WTO at the World Economic Forum and discussed various challenges in the multilateral trading system.
January 24, 2020
Also, spoke about our preparedness to engage in reforms aimed at bringing inclusivity, transparency and non-discrimination. #wef20 pic.twitter.com/BoDyzjjDOSWith Azevedo, the minister discussed various challenges in the multilateral trading system.
They also spoke about India's preparedness to engage in reforms aimed at bringing inclusivity, transparency and non-discrimination, as per a tweet.
"We had constructive discussions on some of the big debates in the trading system, including dispute settlement, development & #fisheriessubsidies. Glad to hear India's support for a strong WTO," Azevedo said in a tweet.
The minister said his engagements at Davos show him that businessmen can clearly see that India is the place to invest for a better future.
He met Hogan and spoke about "the significant India-EU economic and investment ties, and the vast potential for them to grow manifold to our mutual advantage".
Goyal -- who holds the portfolios of Commerce and Industry, and Railways -- also tweeted that he had a productive meeting with Organisation for Economic Co-operation and Development Secretary General Angel Gurria.
"Spoke about increasing India's engagement with OECD for better insights on global trends, thus promoting more equitable and fair trade," the minister tweeted.
Had a productive meeting with Angel Gurria, Secretary-General, OECD at @WEF in Davos.
January 23, 2020
Spoke about increasing India's engagement with OECD for better insights on global trends, thus promoting more equitable and fair trade. #wef20 pic.twitter.com/Fclq3Jxg4UWith Gore, Goyal discussed the global economic scenario and its impact on trade and investment.
After meeting with Iswaran, the minister said they discussed ways to further enhance longstanding and deep relations and establishing sustainable trade ties between the two countries.
About his meeting with Schwarzman, Goyal tweeted, "discussed a range of investment opportunities that India presents across various sectors including real estate, infrastructure and logistics".
With Patel, the minister spoke about expanding trade and investment ties through closer cooperation to achieve mutual economic growth and prosperity.
"Discussed our plan of Railway electrification & the huge investment opportunity it presents. Also, spoke about a range of emerging sectors in India like e-mobility, automation & renewable energy," Goyal tweeted after meeting Voser.
Goyal also met Macquarie Group CEO Shemara Wikramanayake. "We spoke about the company's existing investments in India's infrastructure & renewable energy sector and also discussed other avenues for future investments," the minister said.
On Thursday, the minister said the Indian economy is well-poised to take off and that there is a lot of enthusiasm for making investments in the country.
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