No trade deal under time pressure; national interest supreme: Goyal on pact with US

New Delhi, Jul 4: India does not enter into any trade agreement based on deadlines and will accept the proposed trade deal with the US only when it is fully finalised, properly concluded and in the national interest, Commerce Minister Piyush Goyal said on Friday.

He also said that India is negotiating free trade agreements (FTAs) with different countries, including European Union, New Zealand, Oman, the US, Chile, and Peru.

FTAs are possible only when both sides benefit and it should be a win-win agreement, he told reporters when asked about the proposed interim trade agreement with the US.

“National interest should always be supreme. Keeping that in mind, if a deal is made then India is always ready to deal with developed countries,” Goyal said.

When asked if an interim trade agreement between the two countries is possible by July 9, he said, “India never does any trade deal based on deadline or time frame. When the deal is done properly, and is completely finalised and is in the country’s interest, then we will accept it”.

He added that at present there is no plan to visit Washington for the trade talks.