Piyush Goyal: Amid the announcement by US President Donald Trump to impose tariffs on all countries of the world, Indian Commerce Minister Piyush Goyal said that talks have started for the trade agreement between India and the US. He clarified that India’s interests would remain paramount and no talks will be held under any pressure.
India does not trade by placing a gun on someone’s back.
Talking to reporters, Goyal said, “I have said many times before that there is no business at gunpoint in India.” Time-limits are good because it accelerates dialogue, but it is not right to hurry until we are able to protect the interests of the country and the people. All business talks between India and America are moving towards 2047 developed with the spirit of Bharat I.
75 countries relief from tariff
The Union Minister’s statement has come to light at a time when US President Donald Trump has announced a ban on mutual taxes levied on all countries except China. China will now be charged 145 percent tax. 75 countries including India have now got 90 days tariff relief.
Trade will increase to $ 500 billion
India and the US have targeted to finalize the first phase of their trade agreement by autumn (September-October) this year and planned to increase bilateral trade from the current $ 191 billion to $ 500 billion by 2030. India and Washington have recently agreed to complete the first phase of talks for bilateral trade agreement by the autumn after a meeting between Prime Minister Narendra Modi and President Donald Trump at the White House recently.
On the India-EU trade agreement, Goyal said, “When the two sides are sensitive to each other’s concerns and needs, the conversation progresses.” ‘Strict steps need to be taken to complete the free trade agreement soon’.
Negotiations between India and the European Union have started: Jaishankar
Commenting on this agreement, External Affairs Minister S.K. Jaishankar said that India is making rapid efforts to reach the trade agreement with both the US and the European Union. Donald Trump’s government has immediately reacted to India’s proposals. Within a month of change in administration, we have been theoretically reached the agreement that we will negotiate bilateral trade agreement and find solutions that are effective for both sides, because we also have concerns. This process is not uncertain.
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