Commerce Minister Goyal stresses ‘India does not negotiate with a deadline’ on US trade deal talks

India’s Commerce Minister Piyush Goyal has emphasised that no free trade deals can be and will be negotiated with a deadline or under time constraints. The comments were made on Friday, 4 July, as India’s trade delegation returned from the US.During an interaction with the media, Goyal said that India conducts free trade deal discussions on its own terms and such discussions are ongoing with the EU, New Zealand, Oman, Chile, Peru, and the US.
“Free trade agreements are possible only when it’s a win-win situation for both parties”, Goyal said, adding that India welcomes FTAs with developed economies that benefit India’s national interest.

With respect to the US-India trade deal discussions, key differences persist, particularly over agriculture & dairy access, though both sides remain hopeful about finalising a limited or mini trade agreement.According to an earlier report citing sources, there’s heightened anticipation that the US and India may sign a mini trade deal as early as next week. President Trump has already announced that his administration will start issuing ‘tariff letters’ to over 170 countries, with tariffs ranging from 10% to 70% taking effect from August 1.Also read: India-US trade deal crucial for business confidence and growth: USIBC, USISPF ChiefsOn May 21, government officials had indicated that India is aiming for full exemption from 26% additional tariffs in the interim trade deal being discussed with the United States, which is being aimed at before July 9 to avert the applicability of reciprocal tariffs, which are currently paused by the world’s largest economy.India and the US are looking to double their bilateral trade to $500 billion by signing the 1st tranche of a mutually beneficial multi-sector bilateral trade agreement (BTA) by October 2025.First Published: Jul 5, 2025 10:14 AM IST

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