Business · Trade · 3 hrs ago
India is open to rebuilding economic ties with China, Goyal says
At a Bloomberg New Economy event, India’s commerce minister said the country is working to rebuild ties with China.
Piyush Goyal said renewed engagement must offer fair terms, continuity and geopolitical stability.
He gave no details of a new agreement or immediate steps, and said the future of the relationship remains undecided.
Goyal said India wants to cooperate with trusted partners while protecting its ability to produce critical goods at home.
The pandemic exposed how broken supply chains can leave countries vulnerable, he said.
He also described ties with the United States as strong and said he expected them to grow closer.
For now, the pace and scope of any renewed India-China engagement remain unclear.
Commerce and Industry Minister Piyush Goyal said India is working to develop relations with China again, subject to fair terms, continued engagement and a stable geopolitical situation.
He said the future of the relationship remains uncertain and did not announce a new trade arrangement or immediate steps.
Goyal made the remarks at the Bloomberg New Economy Forum on Wednesday.
He said India is open to working with international partners while balancing cooperation with self-sufficiency in critical sectors.
He also described India’s relationship with the United States as consequential and said he expected it to strengthen.
- Who
- Piyush Goyal, India’s commerce and industry minister.
- What
- He said India is working to develop relations with China again, if engagement is fair, continuous and not undermined by worsening geopolitical conditions.
- When
- Wednesday, October 14, 2026.
- Where
- At the Bloomberg New Economy Forum.
- Why
- Goyal said India is open to international engagement on fair terms and wants trusted partnerships, while protecting supply chains and critical sectors.
This story does not have two clearly opposing sides.
The eastern Ladakh standoff became a major source of strain in India-China ties.
Prime Minister Narendra Modi met Chinese President Xi Jinping on the sidelines of the BRICS Summit and stressed the need to observe existing border agreements and understandings.
Goyal said at the Bloomberg New Economy Forum that India was working to develop relations with China again.
- Speaker
- Piyush Goyal
- Forum
- Bloomberg New Economy Forum
- India-China trade
- $128 billion in 2025-26, up nearly 8%
- India semiconductor purchases
- $130-150 billion annually
- India-China investment policy
- Investments from countries sharing land borders with India are subject to government approval
4 sources
What people are saying
We are open to all countries around the world as long as we get a fair deal, as long as we ensure continuity in the engagement, and as long as the geopolitical situation does not deteriorate.
It may not be possible that we can replicate what one or two countries have been able to do at really big scale unless we join hands, unless we work together.