Commerce Minister Emphasises Long-Term Strategy Amid India-US Trade Talks
Berlin, Oct 24 (TheTrendingPeople.com): India has made it clear that it will not be pressured into signing a trade deal with the United States, Union Minister Piyush Goyal said on Friday. Speaking at the Berlin Global Dialogue, Goyal emphasised that India’s approach to trade negotiations is guided by long-term strategy, not momentary pressure or deadlines.
“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.
The Commerce and Industry Minister highlighted that India is open to discussions but remains committed to a resilient and strategic approach, prioritising economic stability over rushed agreements.
“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,” he added.
Background: India-US Trade Talks
India and the US are negotiating a long-pending trade pact aimed at reducing high American tariffs on Indian goods. Currently, tariffs stand at 50% on key Indian exports, including an additional 25% linked to India’s continued import of Russian oil.
Western powers, including the US, EU, and UK, have urged India to cut imports of discounted Russian crude, arguing that the trade indirectly supports Moscow’s war in Ukraine.
Despite repeated US claims, India maintains that oil imports are guided strictly by national interest and energy security, denying any direct commitments regarding reductions.
Trump’s Comments on Russian Oil
Piyush Goyal’s statement comes amid US President Donald Trump’s recent remarks suggesting India has agreed to scale down Russian oil imports.
“He’s not going to buy much oil from Russia. He wants to see that war end as much as I do… They’ve cut it way back, and they’re continuing to cut it way back,” Trump said, praising Prime Minister Narendra Modi as a “great person” while hinting at ongoing discussions.
However, India’s Ministry of External Affairs (MEA) clarified that there was no recent direct communication between the two leaders.
Progress and Future of Talks
Despite occasional friction, both sides are reported to be making steady progress in trade negotiations. The aim is to expand bilateral trade to $500 billion by 2030.
Earlier this month, US Ambassador-designate Sergio Gor met with Commerce Secretary Rajesh Agarwal in New Delhi to discuss boosting economic ties and increasing American investment in India.
Goyal stressed that India will continue to negotiate from a position of strength, ensuring that any agreement is fair, balanced, and sustainable.
Final Thoughts from TheTrendingPeople.com
India’s stance signals a mature, long-term approach to international trade, prioritising economic resilience and strategic autonomy. By resisting short-term pressure, India aims to secure deals that strengthen both domestic industry and its global trade footprint, while maintaining energy security and national interests.