India will not rush into any trade deals or accept conditions that limit its trade choices, Union Commerce and Industry Minister Piyush Goyal said on Friday. He made the remarks during the Berlin Global Dialogue while on an official visit to Germany, amid ongoing trade negotiations with major partners, including the United States and the European Union.
Goyal stressed that trade agreements are not just about tariffs or market access. “Trade deals are for a longer duration. It’s not only about tariffs, it’s also about trust and a relationship. Trade deals are also about businesses,” he said.
He added that India’s approach is focused on long-term benefits rather than short-term gains.
India is currently negotiating a long-pending free trade agreement (FTA) with the European Union. Key differences remain over market access, environmental standards, and rules of origin. At the same time, talks with the United States are ongoing. Washington has imposed 50 per cent tariffs on some Indian exports, and both sides are working toward reducing barriers and boosting trade.
“We are in dialogue with the United States of America. Our teams are engaged. We recently had the commerce secretary visit the US, and he met with his counterparts. Talks are progressing, and we hope to work towards a fair and equitable agreement in the near future,” Goyal said. India and the US aim to increase bilateral trade to $500 billion by 2030.
Western nations, including the EU, UK, and the US, have asked India to reduce its imports of discounted Russian crude oil. They argue that these purchases support Moscow’s war efforts in Ukraine. India, however, defends its energy purchases as necessary for affordable supply and energy security.
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Shivam Verma is a journalist with over three years of experience in digital newsrooms. He currently works at NewsX, having previously worked for Firstpost and DNA India. A postgraduate diploma holder in Integrated Journalism from the Asian College of Journalism, Chennai, Shivam focuses on international affairs, diplomacy, defence, and politics. Beyond the newsroom, he is passionate about football—both playing and watching—and enjoys travelling to explore new places and cuisines.
