Slowdown in global trade adversely affects economic growth: Goyal

The slowdown in global trade and investment is of serious concern as it adversely affects economic growth, development and job creation, Commerce and Industry Minister Piyush Goyal has said. He has called for de-escalating trade tensions and reviving confidence in the rules-based multilateral trading system.

These issues were discussed during the minister's bilateral meetings with countries including Japan, the US, UK, China, France, Singapore, Korea, Spain, Canada, EU, Mexico, Saudi Arabia, South Africa, Chile and Australia. "The minister held a series of bilateral talks with a number of countries on the sidelines of the two-day G20 Ministerial on Trade and Digital Economy in Tsukuba, Japan, on 8-9 June," the commerce ministry said in a statement Monday. During the meetings, the minister has emphasised the need for reciprocal market access for Indian products.