New Delhi, Feb. 27 -- Union Minister of Commerce and Industry Piyush Goyal emphasized the importance of global trade and economic expansion for India's growth at the inaugural session of the IMC Bharat Calling Conference on Thursday.

He stated that unless India actively engages in international trade and competition, it cannot achieve developed nation status.

"Unless we look at internationalizing our economy, unless we look at our global engagement, unless we look at international trade in a big way, unless we open our mind and our heart and our businesses to world competition, India cannot become a developed nation," Goyal remarked.

He also warned against India being used as a dumping ground for substandard goods and predatory pricing...