New Delhi: Union Minister for Commerce and Industry Piyush Goyal has made it clear that India will not be pressured into finalising a trade agreement with the United States, even as discussions between the two countries continue.
Speaking at the Berlin Global Dialogue during his official visit to Germany, Goyal said India is open to dialogue but will not commit to rigid deadlines. “We are talking to the United States, of course, but we don’t do deals in a hurry or under pressure. India will only enter into agreements that are fair and in the long-term interest of the nation,” he said.
When asked whether trade negotiations often depend on timelines and tariff adjustments, the minister stressed that India’s decisions are guided by long-term strategy rather than short-term pressure. “If there are tariffs on Indian exports, we accept them and work to overcome them by diversifying into new markets and strengthening domestic demand,” he added.
Goyal’s remarks come at a time when India and the US are working to revive a long-pending trade pact aimed at easing tariff barriers and expanding bilateral commerce. The United States currently levies tariffs as high as 50% on certain Indian goods, including an additional 25% on account of New Delhi’s continued purchase of Russian crude oil.
Western nations, including the US, European Union, and the UK, have repeatedly urged India to scale back imports of discounted Russian oil, arguing that the trade supports Moscow’s war in Ukraine.
Meanwhile, former US President Donald Trump recently claimed that India had agreed to sharply reduce its purchases of Russian oil. “They’ve cut it way back, and they’re continuing to cut it way back,” Trump said, also calling Prime Minister Narendra Modi a “great person.”
However, India has denied any recent conversation between Prime Minister Modi and Trump. “I am not aware of any conversation yesterday between the two leaders,” Ministry of External Affairs spokesperson Randhir Jaiswal said during a weekly media briefing.
New Delhi has consistently maintained that its energy imports are based on national interest and energy security considerations.
Despite differing views on some issues, officials from both countries have continued to engage on trade and investment matters. The two sides aim to increase bilateral trade to $500 billion by 2030.
Earlier this month, US Ambassador-designate Sergio Gor met with Commerce Secretary Rajesh Agarwal in New Delhi to discuss ways to deepen economic cooperation and boost American investments in India.
