Piyush Goyal Backs India as Dependable Trade Ally at Visakhapatnam CII Summit

VISAKHAPATNAM — Global supply chains run on contracts, but international trade survives on trust. Union Commerce and Industry Minister Piyush Goyal delivered that blunt assessment on Thursday at the CII Partnership Summit in Visakhapatnam, warning international investors that reliability has turned into the world’s rarest economic currency.

Goyal turned to Indian cinema to press his point. Invoking the central betrayal of the 2015 blockbuster Bahubali—in which the loyal commander Katappa stabbed the protagonist in the back—Goyal told delegates that modern commerce faces a similar climate of bad faith.

"Trust is the scarcest commodity today," Goyal said. "It's the most difficult commodity to find in most parts of the world."

He did not mince words. In an international arena fractured by broken pacts and unilateral tariffs, Goyal framed New Delhi as an unshakeable counterweight.

Bilateral Negotiations and the Washington Track

Beyond the cinematic analogies lay hard commercial bargaining. Goyal pivoted directly from global credibility to ongoing trade talks between New Delhi and Washington.

Negotiators from both countries continue to hammer out terms for a bilateral commercial framework. Goyal dismissed skepticism over regulatory friction, telling reporters on the sidelines of the summit that India is securing an equitable deal.

"And in every respect, India will have one of the best deals with the US," Goyal said, noting that Indian negotiators have secured a solid basket of reciprocal terms.

The remarks signal New Delhi's strategy: demand firm market access while offering foreign partners insulation from sudden geopolitical reversals. The strategy hinges on predictability. Contracts must hold. Commitments must outlive diplomatic turbulence.

Bilateral trade talks with American negotiators will continue in scheduled working sessions, as commerce officials finalize terms ahead of the next round of ministerial reviews.