India continues to be bright spot of world: Piyush Goyal

New Delhi: The global economic uncertainties have impacted foreign direct investment (FDI) but despite these challenges, India will continue to be the bright spot of the world for overseas players, says Commerce and Industry Minister Piyush Goyal. While signing free trade agreements (FTAs) or bilateral investment treaties (BITs), the government always ensures the terms are best for India, Goyal told in a post-budget interaction. Finance Minister Nirmala Sitharaman in her budget speech on Thursday said India is negotiating BITs with different countries in the spirit of 'first develop India'. She said that geopolitically, global affairs are becoming more complex and challenging with wars and conflicts. "The global uncertainty has certainly impacted FDI, particulary considering that the interest rates in the US and other developed countries have massively seen a spike," Goyal told. He said that because of the high interest rates, there was a reverse flow of capital towards developed economies, "but I do believe" the fact that India is an oasis of stability. India's aspirational population and other enablers are giving "us the confidence that despite all these adversities, India will continue to grow, India will continue to be the bright spot of the world," the minister said.