New Delhi– Union Commerce and Industry Minister Piyush Goyal said India will not agree to any trade agreement that undermines the interests of the country’s farmers, dairy producers, or workers. Speaking at Udyog Samagam 2025, a gathering of state industry and commerce ministers, Goyal emphasized that New Delhi’s approach to trade negotiations remains cautious and rooted in long-term national priorities.
“We are working for a good trade deal. India is not going to compromise with the interests of farmers, dairy and workers… We are working on a fair, equitable and balanced trade deal,” Goyal said.
He also noted that India is exploring new export markets for its fisheries sector, including Russia, amid sharply increased U.S. tariffs imposed under President Donald Trump.
Goyal said that while trade negotiations with several partners are ongoing, the timing of any agreement will depend on mutual readiness. “The trade deal can happen tomorrow, it can happen next month, it can happen next year… but as a government, we are preparing for any contingency,” he said.
Talks with the United States continue, though several sensitive market-access issues remain unresolved. India is also negotiating a free trade agreement with the European Union, where disagreements persist over environmental standards, rules of origin and access to specific sectors.
Goyal reiterated that India will not rush into any agreement due to outside pressure, pointing to recent concerns raised by the U.S., U.K., and EU over India’s ongoing purchases of discounted Russian oil. Western governments argue that the oil revenue helps finance Moscow’s war effort in Ukraine.
India has defended its strategy, saying affordable energy supplies are necessary to protect domestic consumers and ensure national energy security.
“Trade deals are for a longer duration. It’s not only about tariffs, it’s also about trust and a relationship,” Goyal said. “India will not sign any trade deal in a hurry.” (Source: IANS)
