New Delhi: Union minister of Commerce and Industry Piyush Goyal said on Friday that India will not be pressured into signing a trade deal with the United States.
Speaking at the Berlin Global Dialogue, Goyal said India was open to discussions, but not deadlines as national priorities are top priority.
“We are talking to the United States, of course, but we don’t do deals in a hurry, and we don’t do deals with deadlines or with a gun on our head,” Goyal said.
When the moderator suggested trade negotiations hinge on deadlines and tariffs, referring to the Donald Trump administration’s modus operandi, Goyal clarified India’s approach was guided by long-term thinking, not momentary pressure.
“India looks long term, India never takes decisions in a rush or on the pressure of the moment. And we’ve accepted if there’s a tariff on us, there is a tariff on us. We’re looking how to overcome that — we’re looking at newer markets, we’re looking at a stronger demand impetus within the Indian economy. So we have a very resilient structure,” the Union minister stated.
Goyal’s statement comes at a time when India and the US are engaged in talks to work out a trade pact amid high tariffs imposed by President Trump. India has been slapped 50% tariffs on its exports to the US, including a penal 25% tax for New Delhi’s continued import of Russian oil.
The US, European Union and the UK have been urging India to cut down on purchase of discounted Russian crude as they believe the trade is helping fund Moscow’s war in Ukraine.
