India Sticks to Its Terms in Trade Deal Talks with US, Says Piyush Goyal
Union Commerce Minister Piyush Goyal said India will not rush into a trade deal. He stressed that India will sign only when the terms match its interests. His remarks came ahead of July 9, when the US pause on retaliatory tariffs ends.
Goyal explained that India negotiates based on national interest, not deadlines. “Whether it is the European Union, New Zealand, Oman, the United States, Chile, or Peru, negotiations for agreements are underway with many countries. A free trade agreement happens only when there is mutual benefit,” he said.
He added, “When the deal is made while safeguarding India’s interests, keeping in mind that national interest will always remain paramount, then India is always ready to make deals with developed countries… India never makes a trade deal based on a timeline; when the deal is good, fully matured, and in the national interest, then we accept it.”
India’s trade team recently came back from Washington. They held high-level talks with the Trump administration.
Chief negotiator Rajesh Agrawal said, “Indian team is back from Washington. Negotiations will continue. There are certain issues which need to be resolved in agriculture and auto sectors.”
Talks have now entered the sixth day. Both sides are trying to agree on sensitive issues. The US wants duty-free access to parts of India's agricultural market. India is pushing for lower tariffs on its exports.
India wants relief for goods like:
Textiles
Gems and jewellery
Leather and garments
Plastics and chemicals
Shrimp and oilseeds
Grapes and bananas
The US wants lower duties on:
Automobiles
Wines
Petrochemical products
On April 2, the US announced a 26% reciprocal tariff on Indian goods. It paused enforcement for 90 days. But a 10% base tariff still applies. India wants full exemption from these extra duties.
Earlier this week, US President Donald Trump said the deal is close. He promised a new approach with fewer tariffs.
Trump said, “I think we are going to have a deal with India. And that is going to be a different kind of a deal. It is going to be a deal where we are able to go in and compete. Right now, India does not accept anybody in. I think India is going to do that, and if they do that, we are going to have a deal for much less tariffs.”
