India Slams China’s Trade Tactics at India Global Forum
Union Commerce Minister Piyush Goyal delivered a sharp critique of China’s trade strategies during his address at the India Global Forum on April 7, 2025. Goyal stated that China’s economic growth has been built on “improper actions” that violate the spirit of fair global trade. He pointed to hidden subsidies, exploitative labor practices, and attempts to wipe out entire sectors as key concerns that have disrupted market balance.
Amid ongoing stock market volatility and global economic uncertainties, Goyal emphasized that India is well-positioned to seize this moment as an opportunity, but the international community must first restore fair play and transparent practices.
China’s Entry into WTO: A Turning Point in Global Trade
A Misplaced Trust in Transparency Piyush Goyal
Piyush Goyal traced the roots of the current trade imbalance back to China’s admission into the World Trade Organization (WTO). “The world was convinced that China will bring transparency,” he said, expressing disappointment over the reality that followed.
Instead of becoming a beacon of global collaboration, Goyal asserted that China leveraged the global trade platform to its own advantage, often at the cost of ethical trade practices. “The foundation of China’s growth was every action improper in the rules of the game,” he added.
Market Turbulence and Global Impact
Volatility in Stock Markets
Speaking about the recent fluctuations in global stock markets, Goyal acknowledged that the world is passing through a period of economic turbulence. According to him, these instabilities are not just financial but deeply rooted in systemic trade issues and unfair global competition.
He noted, “Unless we bring this balance, the world will be in more turbulence.” This statement underscores the urgency of recalibrating the global economic model to ensure equity and sustainability.
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Key Concerns: Subsidies, Labor, and Sector Demolition
The Cost of Unseen Subsidies Piyush Goyal
A major point in Goyal’s critique was China’s use of hidden subsidies. These covert financial supports, he argued, give Chinese companies an unfair edge in global markets, allowing them to dump products at prices that undercut international competition.
This practice, Goyal warned, destroys local industries in other nations, including India, where businesses struggle to match artificially low prices.
Labor Practices Under Scrutiny
In addition to subsidies, exploitative labor practices were also called out. “There are basic human rights concerns when it comes to labor in certain regions,” Goyal said. He suggested that ethical labor standards must be a core requirement in trade agreements moving forward.
Aiming to Demolish Competition
According to the minister, China’s long-term strategy appears focused on eliminating entire sectors of competitors. “It’s not about trade alone, it’s about domination,” he stated. This approach is not only economically aggressive but threatens the sovereignty and sustainability of diverse economies.
India’s Roadmap: Turning Crisis into Opportunity
Resilience Amid Global Disruption
Despite the challenging backdrop, Goyal expressed optimism about India’s ability to weather the storm. “India is well poised to convert current situation into opportunity,” he said, emphasizing India’s potential as a resilient and responsible global partner.
Vision for Fair Trade Piyush Goyal
The minister reaffirmed India’s commitment to fair pricing, transparency, and balanced global trade. He called for a new focus on reforming trade practices and establishing rules that foster equal competition for all.
Conclusion: A Call for Global Realignment
Piyush Goyal’s strong words at the India Global Forum reflect India’s growing assertiveness on the global economic stage. His remarks are not just a critique of China but a call to action for all WTO members and global institutions to step up and redefine the norms of international trade.
As the world navigates through economic challenges, it’s clear that transparent policies, ethical labor standards, and honest competition will be vital in shaping a stable and fair global economy.
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