Commerce Minister Piyush Goyal says India will not rush a trade pact under pressure; outlines stance on US tariffs, Russian oil purchases and the $500bn bilateral trade goal. Read analysis.
Union Commerce Minister Piyush Goyal made a firm public statement that India will not be pressured into a rushed trade agreement with the United States, stressing New Delhi’s preference for long-term strategic decisions over hasty compromises. Speaking at the Berlin Global Dialogue, Goyal rejected the idea of accepting deadlines or deals made “with a gun on our head,” reiterating that India’s trade policy will be driven by durable economic priorities rather than short-term political pressure.
Goyal’s comments come as India and the US resume talks aimed at reducing American tariffs on Indian exports — a key point in bilateral negotiations that could shape the trajectory of trade relations in 2025. According to the report, US tariffs on certain Indian goods have been set as high as 50%, including an additional 25% levy tied to India’s continued imports of discounted Russian crude, an issue that sits at the crossroads of trade policy and global geopolitics. These tariff measures are central to India’s negotiating stance and explain New Delhi’s cautious approach.
The debate over Indian oil purchases has added another layer of complexity. US President Donald Trump has publicly claimed India has sharply reduced purchases of Russian oil, and has framed the energy issue as relevant to broader US-India economic cooperation. New Delhi, however, maintains that energy procurement decisions are based on national interest and energy security priorities. The Indian Ministry of External Affairs has also denied any recent private conversation between the two leaders about oil purchases, clarifying that public assertions do not substitute for formal diplomatic agreements.
