India Will Not Rush into Trade Deal with US, Says Piyush Goyal

Union Commerce Minister Piyush Goyal has clarified that India will not enter into a trade agreement with the US based on deadlines, emphasizing that any deal must be fully finalized, properly concluded, and in India's national interest. This statement comes as India is negotiating free trade agreements with various countries, including the European Union, New Zealand, Oman, the US, Chile, and Peru. The minister reassured that India is open to trade deals with developed countries, but only when it is in the country's interest.

Key Takeaways:

• India will not enter into a trade agreement with the US based on deadlines, but only when the deal is fully finalized, properly concluded, and in India's national interest.
• The country is negotiating free trade agreements with various countries, including the European Union, New Zealand, Oman, the US, Chile, and Peru.
• The minister has stated that national interest should always be supreme when making trade deals.
• No plans are in place for the minister to visit Washington for trade talks at present.
• Discussions are ongoing with various countries for trade agreements.
• An interim trade deal with the US may be announced soon, but will need to navigate sensitive issues, including those related to agriculture.

Statistics:

• India is negotiating free trade agreements with at least 7 countries, including the European Union, New Zealand, Oman, the US, Chile, and Peru.
• The US-India trade deal may be finalized soon, but the exact timeline is unclear.
• At least 50% of the proposed US-India trade deal will need to focus on agriculture, as indicated by the minister's statement.

Sources:

• Atul Keshap, president of the United States India Business Council (Source: NDTV)
• Piyush Goyal, Union Commerce Minister of India (Source: DNA IN)
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• Contify.com