"THERE IS NO COMPROMISE IN OUR DEALS. IT'S A WIN-WIN"

Union commerce minister PIYUSH GOYAL is the man of the moment, having signed two major back-to-back deals, one with the European Union and the other with the United States, within a week. Shortly after the joint statement on the Indo-US trade agreement, Group Editorial Director RAJ CHENGAPPA spoke with him to assess what these arrangements mean for India’s economic growth and the potential benefits for the common man. Excerpts

- RAJ CHENGAPPA

Q. Do the recent trade agreements with the EU and US signal a fundamental shift in India’s trade policy?

They show that India has emerged out of the shadows. Today, it is a very self-confident country. It engages with the developed nations from a position of strength. Ultimately, free trade agreements are about the future. As India lays down the roadmap for a $30 trillion economy, the delta of opportunity from $4 trillion to $30 trillion is huge and unparalleled. All stars are aligned for this. We have a decisive leadership, with Prime Minister Narendra Modi leading from the front, willing to take risks, making bold reform decisions and transforming the mindset of the nation. We have the demographic dividend of young Indians under 30, which will last us for the next 30 years as we grow to a $30 trillion economy. I call it the power of 30-30-30. A population of 1.4 billion that is aspirational, desires all the good things in life and thus generates huge demand. In every respect, India stands at the threshold of a rapid growth story. And when we engage with partners like the US, EU, UK and others, we are preparing ourselves to engage with the best in terms of quality. We are preparing to leverage the strength of our youth's talent and skills. We are preparing our women to contribute much more to the formal economy. In effect, we are making inclusive growth and sustainability our mantra during this Amrit Kaal.

Q. India, like many countries, had protective tariff walls in the past. What gives us the confidence now to open our doors while protecting our industry?