India Committed to Improving Relations with China, Says Piyush Goyal

India is actively working to develop its bilateral relations with China once again, Union Minister for Commerce and Industry Piyush Goyal said on Wednesday. Addressing a query regarding the possibility of Chinese participation in joint ventures within critical sectors at the Bloomberg New Economy Forum, the minister emphasized that any progress in this diplomatic outreach is contingent upon several essential factors.Goyal stated that the path forward for India-China relations is dependent on ensuring continuity in the current engagement, provided that the broader geopolitical situation does not deteriorate. Furthermore, he highlighted that achieving a fair deal remains a fundamental requirement for moving forward. While the minister acknowledged that the two nations have navigated significant concerns in the past, he noted that the “last word” on this complex journey has not yet been scripted, suggesting that the government remains open to evolving its stance based on future developments.The economic relationship between the two nations remains substantial. China currently stands as India's second-largest trading partner, and bilateral trade has continued to show growth. According to official data, trade figures between India and China rose by nearly 8 percent during the 2025-26 fiscal period, reaching a total valuation of $128 billion. This significant economic footprint underlines the importance of the ongoing dialogue between the two Asian powers.Beyond the immediate focus on China, Goyal also touched upon India’s diplomatic ties with the United States. He described the relationship between New Delhi and Washington as both “substantive” and “very consequential” on a global scale. According to the minister, this strategic partnership is poised to strengthen further, regardless of potential shifts in political thinking within either of the two countries.The minister explained that the enduring strength of the India-US relationship is rooted in a robust framework of shared economic, political, and security imperatives. By emphasizing these foundational pillars, Goyal indicated that the partnership is built to withstand changes in leadership or political climates, ensuring long-term cooperation and mutual benefit.As the government navigates these complex international dynamics, the remarks by the commerce minister provide a clear indication of India's dual strategy of maintaining critical global alliances while simultaneously evaluating the potential for engagement with neighboring economic partners. The focus remains on safeguarding national interests while pursuing growth and stability in an increasingly volatile global landscape.Looking ahead, policymakers are expected to continue monitoring the geopolitical environment closely before finalizing any specific arrangements regarding industrial or sectoral collaborations. The government’s cautious yet proactive approach reflects a broader effort to balance economic necessity with national security, ensuring that any future agreements with China adhere to the standards of fairness and stability outlined by the minister.