Commerce and Industry Minister Piyush Goyal said that India-Europe trade can grow exponentially with mutual understanding and cooperation. Speaking at the launch of the Federation of European Business in India in New Delhi on Friday, Mr Goyal the Minister said that the world cannot work on the principle of retaliation but has to find solutions through mutual cooperation. He also said that the European Union’s policies and actions like rules related to deforestation, Carbon Border Adjustment Mechanism have impacted the Indian Industry.

Speaking about the Free Trade Agreement negotiations with the EU, the Minister highlighted that European countries are attracted to India for its vibrant democracy, rule of law, demographic dividend and decisive leadership which assures stability and growth.