New Delhi, April 7 -- Union Commerce and Industry Minister Piyush Goyal on Monday called on Indian businesses to embrace "economic nationalism" by supporting domestic suppliers rather than opting for marginally cheaper imports.

Speaking at FICCI's 98th Foundation Day celebrations in Mumbai, Minister Goyal invoked Mahatma Gandhi's nationalist ethos, urging India's industrial leaders to prioritise domestic value chains even when foreign alternatives appear more economical in the short term. He cited examples of Japan and Korea, where, despite free trade agreements, domestic industries consistently support local suppliers as a matter of "collective conscience."

"The Minister's comments come as India positions itself as a viable manufacturi...