India open to ideas from all sides to strengthen investors' confidence: Goyal

India is open to ideas from all sides to strengthen investors' confidence so that they can invest and participate in the country's development, Commerce and Industry Minister Piyush Goyal said.

"Indian government is looking for ideas from all sides to strengthen and to give confidence to international investors, with the best of technologies, to come to India and invest," he said this while interacting with Indian diaspora in London last night.

Speaking on trade with the UK and the US, the minister said India will sit down across the table and find a common meeting ground with both countries.

"There are obviously some red lines, which each side may find difficult to compromise, but as long as we can respect that, as one would do in a business transaction or while negotiating a good deal, it will not be impossible to resolve it," he said.

He added that every country has to protect its national interest, legal sovereignty and the interests of its citizens.

Further on free-trade agreements, he said such pacts implemented by India in 2009-10 had not been good deals and some of them are causing agony "which is why India is looking at the US to put that baggage behind and move forward".

On the proposed mega free trade pact RCEP, he said that India is working for a fair deal which protects the country's interests and does not allow unfair market access.

"From now, no agreement or trade pact on commerce will be at the cost of India's interests, the country's sovereign requirements and interests of the citizens," Goyal said.