Mumbai, Feb. 18 -- Commerce Minister Piyush Goyal on Wednesday outlined an expansive vision of India's economic diplomacy, asserting that engagement, trust and negotiating from a position of strength have defined the country's recent trade successes.

"I think the first principle of economic diplomacy is that don't sit so far away from your stakeholders. Come closer to them," Goyal said at the Global Economic Cooperation Summit in Mumbai.

He emphasised that India is "at the forefront of building alliances, building friendships, aligning our own trade, our own investment imperatives with the rest of the world."

Framing India's long-term ambitions, Goyal noted that the country is working toward becoming a USD 30-35 trillion economy by 204...