New Delhi, Nov 11 Union Commerce and Industry Minister Piyush Goyal said on Tuesday that India would not compromise on the interests of farmers, the dairy sector, and workers in trade deals that it signs with other countries.
He also said India is looking for new markets like Russia for the country's fisheries sector as an alternative to the US market following the sharp hike in tariffs by the Trump administration.
"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," he said at Udyog Samagam 2025, a conference of Industries and Commerce Ministers of states.
The minister further stated that the timing of such deals would 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 added.
Last week, Goyal said that discussions between India and the US are progressing steadily, though several sensitive and complex issues remain unresolved.
The minister has also stated earlier that India will not rush into a trade deal as it wants to go for a fair and equitable deal with its partner countries.
The Commerce Minister’s comment came against the backdrop of the ongoing India-US trade talks. India is also negotiating a free trade agreement with the European Union, with differences remaining over market access, environmental standards and rules of origin.
Goyal said, in his address at the Berlin Global Dialogue, that India’s approach to trade negotiations is driven by a long-term vision, not by pressure to meet immediate trade targets. "Trade deals are for a longer duration. It's not only about tariffs, it's also about trust and a relationship. Trade deals are also about businesses," he maintained.
"India will not sign any trade deal in a hurry," Goyal said, referring to European concerns over India's continued purchases of Russian oil.
“It's not about what is going to happen in the next six months. It's not just about being able to sell steel to America," Goyal said, referring to the ongoing trade negotiations with the US.
The EU, the United Kingdom, and the United States are pressuring India to scale back imports of discounted Russian crude, which the Western countries claim is helping Moscow finance the war against Ukraine.
India has defended its purchases of Russian oil as essential for ensuring affordable supplies and energy security for its people.
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