Union Commerce and Industry Minister Piyush Goyal has reaffirmed India’s commitment to a cautious and strategic approach in trade negotiations, stating that the country will not hastily enter into agreements or accept conditions that could compromise its long-term economic interests. This statement comes amid ongoing discussions with major trading partners, including the United States.
Speaking at an event in Berlin, Goyal emphasized that trade deals should be built on trust and mutual growth rather than short-term objectives or immediate market access. “Trade agreements go beyond tariffs or six-month targets. They are about establishing enduring partnerships and creating sustainable frameworks for global business,” he said, highlighting India’s ongoing engagement with Washington.
Goyal pointed out that India’s trade strategy is guided by a long-term vision focused on balanced economic growth. “Our decisions are based on what benefits the nation in the years ahead, not on transient commercial gains,” he remarked, underlining the emphasis on strategic planning over quick fixes.
In an interview with Doordarshan, the minister confirmed that both India and the United States are making progress in bilateral discussions. “We maintain continuous dialogue with the US. Our teams are actively engaged, and the commerce secretary recently held meetings with his American counterparts. We are working towards a fair and equitable agreement,” he stated.
Reports indicate that India-US trade talks, which had experienced delays for several years, aim to lower tariffs on Indian exports, some of which currently face duties up to 50 percent. Both nations have set an ambitious target of increasing bilateral trade to $500 billion by 2030.
Currently in Germany, Goyal met with Dr. Levin Holle, Economic and Financial Policy Advisor to the German Chancellor, to discuss expanding Indo-German collaboration and advancing the India–EU Free Trade Agreement (FTA). Reflecting on the meetings, he shared on X that both sides are committed to the “shared prosperity of our nations.”
Earlier this month, US ambassador-designate Sergio Gor held discussions with Commerce Secretary Rajesh Agarwal and Prime Minister Narendra Modi, reaffirming Washington’s commitment to deepening economic engagement with India and expanding investment opportunities. These developments signal India’s methodical approach to cultivating global trade relations while safeguarding long-term national interests.
