16 hours ago
- Business
- United News of India
India negotiating trade deals guided by national interest, not under pressure: Piyush Goyal
Bengaluru, July 5 (UNI) Union Commerce and Industry Minister Piyush Goyal today said India is now negotiating international trade agreements with confidence and strength, unlike the previous Congress and UPA governments that signed deals which did not align with national interest.
'Today, India negotiates with self-confidence. We can compete with anyone in the world. This is not the weak India of the Congress and UPA era, which entered into agreements that did not serve national interest,' Goyal asserted, speaking to reporters on the sidelines of IIMTAA Sangam event held here in the City.
Remarks by Goyal comes in the wake of US President Donald Trump issuing a firm deadline of July 9 for India to conclude a trade agreement, warning that, absent a deal, the US may reimpose a 26 percent 'reciprocal' tariff on Indian imports
The minister emphasised that the Narendra Modi government has ensured that all trade negotiations are driven solely by national priorities and not dictated by external deadlines or pressure.
'India does not negotiate under imposed deadlines. National interest is paramount in every agreement we enter,' he said.
Listing the progress made since 2014, Goyal noted that India has successfully concluded free trade agreements (FTAs) with Mauritius, the United Arab Emirates, Australia, and the four-nation EFTA bloc comprising Switzerland, Norway, Liechtenstein, and Iceland.
He added that most recently, an FTA was finalised with the United Kingdom.
India is also engaged in active negotiations with several other developed nations including the European Union, the United States, Oman, Peru, and Chile, the minister said.
Highlighting the transformation in India's global trade strategy, Goyal said the country is now seen as a reliable and capable partner on the world stage. 'We are self-confident. We are negotiating from a position of strength,' he reiterated.
The minister also underscored that the Modi government's focus is to create equitable trade partnerships that support India's economic growth while protecting domestic interests.
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