Goyal: War's Collateral Damage Hits Trade; India Seals 9 FTAs with 38 Nations

Goyal said India is not involved in the war, but when there is a war going on, there is collateral damage, and the nation should rally together to face the challenges of the time.

The Union Minister was speaking at the launch of Malabar Gold and Diamonds' National CSR Plan 2026-27 in the national capital.

"There is a war going on. We have nothing to do with the war. India is not in any way involved in the war. But when such a big war is going on, there is collateral damage. There are difficulties," Goyal said at the event held at Dr. Ambedkar International Centre.

Goyal further called for national unity in the face of global headwinds. The minister said this was the moment for the country to stand together in unity.

"This is the time the nation has to rally as one. The nation has to come together to face the challenges of the time. This is where I think efforts of the responsible jewellers come to play," he said.

Goyal also highlighted India's trade diplomacy achievements, noting that the country has entered into Free Trade Agreements (FTAs) with 38 developed nations.

"We have entered into free trade agreements with 38 developed nations, 9 free trade agreements covering 38 of the world's rich countries, developed nations. Today India has preferential market access, which means the market is open, there is less duty or zero duty in all these markets," Goyal said.

He also said that two-thirds of global trade is now open to Indian farmers, artisans, and Indian companies with little or zero duty, creating significant opportunities for businesses like Malabar Gold and Diamonds to expand internationally.

"India's farmers, fishermen, our MSMEs, our artisans who make handicrafts, handlooms, all of them have got access to two-thirds of the world's market, they have got an opportunity, only when we will focus on quality in India... we will provide good quality services," Goyal said.

"I feel that if you encourage our children's capabilities, the more you support the capabilities, the faster India will grow, and achieve the goal of Vikshit Bharat at 2047," he added.

The event was also addressed by Malabar Group Chairman M.P. Ahammed, MD of India Operations, Asher O, and Group Executive Director of Malabar Group, Nishad AK.

- ANI