India will not sign any trade agreement in haste or accept conditions that restrict its choices, Union Commerce and Industry Minister Piyush Goyal said on Friday, amid ongoing trade talks with major global partners including the United States and the European Union.
Speaking at the Berlin Global Dialogue during his official visit to Germany, Goyal said India’s approach to trade negotiations is guided by long-term vision and trust rather than short-term targets or external pressure. “India will not sign any trade deal in a hurry,” he asserted, adding, “We don’t do deals in a hurry or with a gun to our heads.”
He stressed that trade agreements are not only about tariffs or market access, but also about building sustainable relationships and trust-based frameworks for global business cooperation. “Trade deals are for a longer duration. It’s not only about tariffs, it’s also about trust and a relationship. Trade deals are also about businesses,” Goyal said.
He added that India is looking at newer markets to deal with the high tariffs.
Asked if India is getting a fair trade deal that is long term with conditions attached, Goyal said, "I do not think India has ever decided who its friends will be based on any other considerations other than national interest... and somebody tells me you can't be friends with the EU, I won't accept that or somebody tell me tomorrow, I can't work with Kenya, it's not acceptable."
The decision to buy a particular product from a country is something that the entire world will have to take a call on, he said.
India is currently negotiating a long-pending free trade agreement (FTA) with the European Union, with differences persisting over market access, environmental standards and rules of origin. Trade discussions with the United States,which has imposed 50 per cent tariffs on Indian exports, are also in progress.
Western nations including the EU, UK and the US have been pressuring India to scale down imports of discounted Russian crude, arguing that it helps finance Moscow’s war in Ukraine. India has defended its purchases, maintaining that they are vital for ensuring affordable energy and national security.
Earlier, in an interview with Doordarshan, Goyal said New Delhi and Washington were making “steady progress” toward a fair and equitable trade pact. “In a very short-term context, it’s not about what will happen in the next six months. It’s not just about being able to sell steel to America,” he said, referring to ongoing efforts to ease trade barriers.
He added that teams from both sides are actively working to finalise the contours of a balanced deal. “We are in dialogue with the United States of America. Our teams are engaged. We recently had the commerce secretary visit the US, and he met with his counterparts. We continue to engage with them, and talks are progressing. We hope to work towards a fair and equitable agreement in the near future,” Goyal said.
India and the US aim to boost bilateral trade to USD 500 billion by 2030. Five rounds of negotiations have been completed since leaders of India and the United States directed officials in February to begin talks on a proposed BTA.
Goyal’s visit to Germany is part of broader efforts to advance discussions on the India-EU FTA and strengthen economic partnerships across Europe.