The minister, who faced much trolling on social media for the mix-up, quoted Einstein to say that mistakes are not all that bad.
"Maths never helped Einstein discover gravity," Goyal had said while discussing the economy during a press conference on September 12.
Speaking at a function at Chhatrapati Shivaji Maharaj Terminus here on Friday, the Union minister for commerce and railways said he made a mistake, and he admitted to it.
"We all get the opportunity to make mistakes. I said Einstein instead of Newton. The same Einstein had said, `A person who never made a mistake, never tried anything new.'
"I am not someone who is afraid of making
mistakes...the moment I realised my mistake, I made a clarification," the BJP leader said.
He said he was talking about the need to find innovative ways to build 5 trillion dollar economy in five years, of which exports would account for 20 per cent.
"Unfortunately, the context took a backseat and my inadvertent mistake was highlighted," he said.