Commerce & Industry Minister Piyush Goyal is set to hold bilateral meetings with his counterparts from the G7 countries at the outreach session of the  G7 Trade Ministers’ Meeting in Italy next week to explore new avenues for trade and investment, according to an official statement.

“This visit underscores India’s strategic efforts to showcase the immense trade and investment opportunities it offers, emphasizing its status as a democratic nation with a strong rule of law,” a statement issued by the Commerce & Industry Ministry on Saturday noted. The outreach session of G7 Trade Ministers will be in Reggio Calabria, Italy on July 16-17.

The Minister will also visit Switzerland on July 14-15 to hold meetings with businesses and officials on the implementation of the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA).

Efforts will also be made to chart a roadmap for the $100 billion investment commitments made by the four EFTA countries–Iceland, Norway, Switzerland and Liechtenstein–under the free trade pact signed earlier this year. The promised investments have to be made in a period of fifteen years.

“This visit aims to further strengthen the bilateral economic and comprehensive partnership between India and Switzerland, fostering deeper economic ties and mutual growth,” the release said.

In Italy, Goyal’s discussions with Trade Ministers from G7 nations will also focus on resolving bilateral trade issues, and deepening economic cooperation.

“The country offers a conducive environment for global businesses with its market-oriented reforms, skilled workforce, and strategic location. The Minister’s participation in these high-level meetings will further India’s economic diplomacy, promoting the nation’s interests on the global stage,” the release added.

The G7 major industrial countries comprise Canada, France, Germany, Italy, Japan, the UK and the US. The European Union, too, is represented at all meetings.

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