India Will Safeguard Its Interests in Trade Deal with the U.S.: Piyush Goyal
New Delhi: Union Minister of Commerce and Industry, Piyush Goyal, said on Friday that the Indian government will protect the interests of the country and its people during discussions with the United States on the proposed Bilateral Trade Agreement (BTA). He emphasized that no hasty decisions would be made and that all trade negotiations are being pursued with a “India First” approach, ensuring progress towards the vision of “Viksit Bharat 2047”.
Addressing the Italy-India Business, Science, and Technology Forum in New Delhi, Goyal stated that concrete steps are needed to expedite the Free Trade Agreement (FTA) between India and the European Union to strengthen economic ties. He added that the India-Middle East-Europe Economic Corridor (IMEC) would offer India and Italy greater opportunities to connect and collaborate. He also called for enhanced seamless trade and investment between India and Italy.
When asked about the progress of the India-U.S. Bilateral Trade Agreement on the sidelines of the event, Goyal told reporters that India never engages in negotiations under pressure. His remarks came in response to U.S. President Donald Trump’s recent decision to impose a 90-day pause on reciprocal tariffs for 75 countries, including India.
In fact, in February this year, India and the U.S. agreed to work on the first phase of the trade agreement. Both countries have set a target to finalize the initial phase by September-October this year. The goal of this agreement is to double the current bilateral trade from USD 191 billion to USD 500 billion by 2030.
