New Delhi, Oct. 14 -- India is open to rebuilding economic ties with China, provided any renewed engagement offers fair terms, continuity and a stable geopolitical environment, Union Commerce and Industry Minister Piyush Goyal said, signalling scope for closer business relations between the two countries.

Speaking at the Bloomberg New Economy Forum, Goyal said India was willing to engage with countries worldwide as it seeks to strengthen supply chains, expand technology partnerships and reduce vulnerabilities arising from geopolitical tensions.

"We are open to all countries around the world as long as we get a fair deal, as long as we are ensured continuity in the engagement, and as long as the geopolitical situation does not deteriorat...