New Delhi, Oct. 23 -- European manufacturing will have to seek trusted partner countries to produce goods that are becoming "very expensive" at home, India' commerce and industry minister Piyush Goyal said in a briefing late on Thursday night (India time).

His remarks come against the backdrop of strained global supply chains, weighed down by ongoing wars in West Asia and Ukraine alongside a broader economic slowdown. The International Monetary Fund (IMF) projects 1.3% GDP growth for the European Union (EU) in 2026. By contrast, the IMF raised India's growth forecast by 60 basis points to 7% for FY27, cementing its position as the fastest-growing major economy.

Briefing reporters after meeting Germany's Federal Minister for Economic Aff...