Union Commerce and Trade Minister Piyush Goyal on Friday emphasised that India will not sign trade agreements in haste, signalling a measured approach amid ongoing discussions with the United States and the European Union. Speaking at the Berlin Dialogue in Germany, Goyal stressed that trade deals must be long-term partnerships based on mutual trust, rather than pressured arrangements influenced by external countries.
India-US trade talks
The comments come amid ongoing India-US trade negotiations, which have been closely watched in light of US concerns over India’s continued purchase of Russian crude oil. Goyal stated, “We are in active dialogue with the EU. We are talking to the US, but we do not do deals in a hurry and we do not do deals with deadlines or with a gun to our head.”
He clarified that India’s trade partnerships are guided solely by national interest, not external pressures, adding that New Delhi will not choose trading partners according to another country’s preferences.
India-EU trade discussions
India is also in talks with the European Union for a free trade agreement, covering issues such as market access, environmental standards, and rules of origin. The government is seeking new markets to mitigate the impact of high US tariffs on Indian exports. Goyal underlined that trade agreements must reflect reciprocity and fairness, rather than be rushed under geopolitical pressure.
Energy security and Russian oil
The US and EU have been pressing India to curb imports of Russian oil, citing concerns that purchases fund Moscow’s actions in Ukraine. India has maintained that its energy imports are crucial for domestic security and affordability. Experts, however, caution that switching from Russian crude would come at a cost, primarily through higher prices from alternative suppliers, including the Middle East.
Goyal’s statements come amid US claims that Prime Minister Modi agreed to reduce Russian oil imports as part of the trade talks — a position not confirmed by India. Analysts note that state oil companies are proceeding cautiously, balancing energy security and international diplomacy.
Strategic autonomy in trade
Reinforcing India’s stance on trade sovereignty, Goyal said, “Do not think India has ever decided who its friends will be based on any other considerations other than national interest… If somebody tells me I can’t work with Kenya, it’s not acceptable.” His remarks underline India’s commitment to strategic autonomy in its international trade relations.
Conclusion
India’s approach to trade deals reflects a careful balance between economic growth, energy security, and diplomatic considerations. Goyal’s comments reiterate that the country will engage in negotiations thoughtfully, prioritising long-term partnerships and national interests over external pressures or deadlines.