Union Minister Piyush Goyal on Friday (4 July) made it clear that India will not rush into trade agreements simply to meet deadlines, stating that any deal must be mutually beneficial.

His remarks come as India and the US are reportedly at the final stages of an interim trade deal.

Goyal emphasised that India’s stance in approaching global trade discussions remains firm and principled.

In the interim deal, India is aiming to secure broader market access for its labour-driven exports, while the US is pressing for lower tariffs on its farm produce.

With the suspension of US reciprocal tariffs set to expire on 9 July, both sides are working to conclude negotiations beforehand.

“It should be a win-win agreement, and only when India’s interests are safeguarded – national interest will always be supreme – and keeping that in mind, if a good deal is formed, India is always ready to engage with developed countries,” Goyal said on the sidelines of the 16th Toy Biz B2B expo in Delhi.

“Discussions are ongoing with various countries — be it the European Union, New Zealand, Oman, the US, Chile, or Peru. Talks about agreements are underway with many nations,” he said.

According to Goyal, India only accepts free trade agreements that offer mutual benefit and will not rush into trade deals based on deadlines.

“A free-trade agreement is only possible when there is mutual benefit. India never enters into trade deals based on deadlines or time pressure. A deal is accepted only when it is fully matured, well-negotiated, and in the national interest,” Goyal added.

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