India's Commerce Minister Piyush Goyal has consistently emphasized that India will not enter into trade agreements based on deadlines, prioritizing national interests and mutual benefits in ongoing trade talks with the United States. Despite a July 9 deadline set by Washington and looming threatened tariffs of 26% effective August 1, India maintains it will only finalize a deal when it is fully matured, fair, and beneficial to both nations. Goyal expressed optimism in late July about making progress and securing a trade agreement with the US before the August 1 tariff deadline, highlighting India's goal of obtaining preferential market access over competing countries. He also underscored India's negotiating position as strong and principled, refusing to compromise under pressure. Following US President Donald Trump's tariff announcements, Goyal addressed the Indian Parliament, affirming the government's commitment to protect farmers, MSMEs, and entrepreneurs, and describing India as a bright spot in the global economy with significant growth prospects. The Indian government is actively studying the tariff developments and engaging with stakeholders to safeguard national interests. Trade talks are also ongoing with other partners including the European Union and Oman.
Indian govt studying recent developments on US tariffs, in talks with stakeholders: Piyush Goyal #PiyushGoyal #Tariff
#WATCH | Union Commerce Minister #PiyushGoyal says the govt would take “all necessary steps to safeguard and advance our national interests” following the #UnitedStates’ decision to impose higher #tariffs on Indian imports. https://t.co/ccmXTqB0Ad #TrumpTariffsindia
🔊 'The immediate reaction is political. Right now, India's opposition parties are calling this a diplomatic failure for Indian Prime Minister Narendra Modi.' @aftabahmed00 on how President Trump’s tariffs announcement is going down in India https://t.co/NnRq7dIBGv https://t.co/UQKECeJe5K