New Delhi: Commerce and Industry Minister Piyush Goyal on Friday reaffirmed that India is engaged in active negotiations with the United States on a proposed bilateral trade agreement (BTA) but will always prioritize national interest and public welfare in any international deal.
Addressing the media, Goyal emphasized that India will not negotiate “at gunpoint”, responding to recent developments where US President Donald Trump moved to pause certain reciprocal tariffs.
“Time-bound talks can be productive, but no agreement should compromise India’s core interests. We do not negotiate under pressure,” Goyal said.
India-US Trade Deal: Aiming for USD 500 Billion by 2030
India and the US are currently targeting to conclude the first phase of their trade deal by September–October 2025, with a long-term goal of more than doubling bilateral trade from USD 191 billion to USD 500 billion by 2030.
Goyal stated that negotiations are progressing well and reflect the government’s broader vision of “Viksit Bharat 2047”, a roadmap to transform India into a developed nation by its 100th year of independence.
India-EU and India-Italy Trade Relations Also in Focus
Speaking at the Italy-India Business Forum, Goyal highlighted the need for faster movement on the India-European Union (EU) Free Trade Agreement (FTA). He stressed the importance of both sides being sensitive to each other’s concerns, especially regarding non-tariff barriers affecting Indian businesses in the EU.
The minister also pointed to the strategic potential of the India-Middle East-Europe Corridor (IMEC) as a pathway to strengthen India’s ties with Italy and other European partners.
“We need to remove trade roadblocks and encourage mutual investment. There’s great potential to grow beyond the current USD 15 billion trade level with Italy,” he said.
India Seen as a Strong Trade Partner Globally
Goyal added that India is one of the few countries currently engaged in comprehensive trade talks with the US, and its 1.4 billion-strong market makes it a key economic partner.
“India presents a compelling case for strategic trade partnerships, and we are moving ahead with confidence and clarity,” he concluded.
