India-US trade talks: 'We will not deal at gunpoint': Piyush Goyal
In the ongoing negotiations on the trade agreement between India and the US, Piyush Goyal made it clear that India will never negotiate under any pressure. He said that the interests of the country will be given priority and no decision will be taken in haste. The goal is to double India-US bilateral trade by 2030. Know how India is making a trade agreement with the US on its own terms and how the relationship between the two countries can take a new turn!
The trade relationship between India and the US has always been important and at this time special attention is being paid to the trade agreement between the two countries. Union Commerce Minister Piyush Goyal recently made an important statement, in which he said that India's interests are paramount and ruled out any kind of pressure during trade talks with the US. The talks are aimed at doubling bilateral trade by 2030. Let's know in detail about this conversation and the strategy behind it.
'No deal at gunpoint' – Piyush Goyal's statement
Union Commerce Minister Piyush Goyal recently said that India will continue to negotiate a trade agreement with the US, but protecting the country's interests is paramount. He made it clear that India will never do trade talks "at gunpoint". "Time restrictions are important as it speeds up the negotiations, but we will never compromise on the interests of the country," he said. However, India has got a relief of 90 days on this.
India-US trade pact: $500 billion target by 2030
The government has set a target of USD 500 billion for bilateral trade between the two countries by 2030. The first phase is planned to be finalised by autumn (September-October) this year. The agreement aims to further strengthen economic relations between the two countries. Goyal said the trade talks between the two countries are moving in the spirit of "India First", and its main goal is to chart the direction of a developed India by 2047.
External Affairs Minister S Jaishankar's statement
Commenting on the subject, External Affairs Minister S Jaishankar said that India is working with utmost urgency on trade agreements with both the US and the European Union. He also said that the Donald Trump administration is responding promptly to India's proposals, and soon a bilateral trade agreement will be signed between the two countries. "We have agreed within a month of the change in administration that we will go for a bilateral trade agreement," Jaishankar said.
India-European Union (EU) trade talks are also active
Piyush Goyal also expressed his views on the trade negotiations between India and the European Union. Trade talks can move forward only when both sides are sensitive to each other's concerns and needs, he added. Goyal said that India is strongly pursuing all trade talks, protecting its interests, and soon concrete steps will be taken to conclude the free trade agreement.
