We Are Working To Develop Relations With China Once Again: Goyal

New Delhi: Commerce and Industry Minister Piyush Goyal on Wednesday said India is working to rebuild its relations with China, but the last word has not yet been written on this journey. He also said India is open to joint ventures with any country, provided it gets a fair deal.

"We are open to all countries around the world as long as we get a fair deal, as long as we ensure continuity in the engagement, and as long as the geopolitical situation does not deteriorate. I think we had some concerns in the past. We are working to develop relations with China once again, but the last word has not yet been scripted on this journey," he said.

 

He was speaking at the Bloomberg New Economy event. The remarks are important as China is India's second-largest trading partner. Bilateral trade between the two countries rose 7.9 per cent in 2025-26 to USD 127.7 billion from USD 118.39 billion in 2024-25.

 

India's exports to China grew 36.62 per cent to USD 19.47 billion in 2025-26 from USD 14.25 billion a year ago. Imports, on the other hand, rose 16 per cent to USD 131.62 billion during the period. The trade deficit widened to USD 99.19 billion in the last fiscal year from USD 85 billion in 2024-25. This is an area of concern for the country.

There are also issues related to investments from China as India has tightened its FDI policy for countries sharing land borders with it. Prime Minister Narendra Modi met with Xi Jinping, President of China, on September 12, 2026, on the sidelines of the BRICS Summit here.