Speaking at the Italian-Indian Business, Science and Technology Forum, Goyal stressed that any agreement will only be reached if it benefits the Indian people.
Commerce Secretary Piyush Goyal said after the U.S. suspended 90-day reciprocity tariffs on India that India will not rush to any trade agreement or negotiate under pressure. The move by Washington is seen as an opportunity for both countries to speed up negotiations on bilateral trade agreements.
Speaking at the Italian-Indian Business, Science and Technology Forum, Goyal stressed that any agreement will only be reached if it benefits the Indian people. “We never negotiate at the gun. Time limits may inspire faster negotiations, but we will not be in a hurry unless India’s interests are fully protected,” he said.
He added that trade negotiations with the United States, the United Kingdom, the European Union and other countries are moving forward, taking into account the goals of the developed India (Vixit Bharat) by 2047. Although he did not share specific details, Goyal noted that successful negotiations require both parties to understand each other’s concerns.
Foreign Minister S Jaishankar also talked about this topic at the Carnegie Global Technology Summit. He said India is ready for emergency negotiations with the United States, especially because the tariff decision of U.S. President Donald Trump has changed the global trade environment.
Jaishankar said the U.S. is now taking a more aggressive approach to global trade and expects more partners. “This time, we are ready for a high level of urgency. Our trade deal is very challenging, but we are dealing with ambitious and focused people,” he noted.
He also said that in the earlier Trump administration, both countries had strong opinions about each other but lacked mutual understanding. That has changed, he said.
Speaking of the EU, he acknowledged that negotiations have been slow over the years, but noted that negotiations have not been held for a long time.
Jaishankar concluded that both the United States and China have a significant impact on global trade, especially in the field of technology.
