Friday, April 11, 2025

Despite Tariff war by Trump, New Delhi aims to double trade to USD 500 billion by 2030 :::: No trade pact at gunpoint, says Piyush Goyal

No deal at gunpoint, India First approach: Piyush Goyal on trade talks with US


Union Commerce Minister Piyush Goyal emphasised that India and the US are progressing on a bilateral trade agreement, aiming to double trade to USD 500 billion by 2030.  


Dr S Jaishankar also said, "We are trying to in each case get the other side to kind of speed it up".


The Modi Govt says trade talks with US in progress, but no negotiations under pressure

Centre asserts that India pursuing trade deals with priority to national interests

Amid the global tariff war sparked by US President Donald Trump, Union Commerce Minister Piyush Goyal said India is in talks with the US for a trade agreement, asserting that the nation's interests will be prioritised and that no negotiations will be conducted under pressure.


"I have said it many times before that we do not negotiate at the gunpoint. Time restrictions are good as they encourage us to talk swiftly, but until we are able to protect the interests of the country and people, it is never good to be hasty," Goyal told reporters. 







The Minister’s remarks came a day after US President Donald Trump announced a pause on reciprocal tariffs for all countries except China, which is now facing a 145 per cent duty. 

India, which was also set to be impacted by the tariffs, will now get a 90-day reprieve.  



Goyal said all trade talks between the countries are progressing well in the spirit of 'India first' and to ensure the pathway to Viksit Bharat 2047.


India and the US have set a target to finalise the first phase of their trade agreement by this fall (September–October), with the goal of more than doubling bilateral trade to USD 500 billion by 2030 from the current USD 191 billion.


Commenting on the development, External Affairs Minister S Jaishankar said that India is pursuing trade deals with both the US and the European Union with high urgency, adding that the Donald Trump administration has been prompt in responding to India’s proposals.  


"Within a month of change in the administration, we actually have conceptually an agreement that we will do a bilateral trade agreement; that we will find a fix that will work for both of us because we have our concerns too. And it's not an open-ended process," Jaishankar said.


New Delhi and Washington had agreed to negotiate the first tranche of the bilateral trade deal by the fall of 2025, following recent talks between Prime Minister Narendra Modi and President Donald Trump at the White House.


Goyal, on the India-European Union (EU) trade pact, said the trade talks proceed when both sides are sensitive to each other's concerns and requirements.


"I can only share... that all the trade talks are progressing well in the spirit of India first and to ensure our pathway to Viksit Bharat 2047," he said, adding concrete steps need to be taken to expedite the conclusion of the free trade agreement.





US Vice President J D Vance likely to visit India between April 21-24

US Vice President JD Vance and US National Security Advisor Mike Waltz will visit India from April 21-24, with key meetings and trade talks expected. 

Usha Vance will accompany him on her first visit to India as Second Lady. 

The visit is set to include meetings with Prime Minister Narendra Modi and other senior officials. Alongside official engagements, Vance will travel to Jaipur and Agra.



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