Piyush Goyal Denies Claims of India Delaying US Trade Agreement as ‘Completely False and Misleading’
NEW DELHI: The Indian government has categorically denied reports suggesting that it is delaying an interim trade agreement with the United States. Union commerce minister Piyush Goyal labeled these claims as “completely false, baseless and misleading,” asserting that negotiations between the two nations are progressing as planned. This clarification follows a Reuters report indicating India’s hesitance to expedite the trade pact while seeking more favorable terms amid increasing pressure from the US.
Goyal emphasized the positive nature of discussions with US Trade Representative Jamieson Greer during his visit to New Delhi in June. He stated that both parties are committed to finalizing a balanced agreement that benefits businesses, farmers, workers, and consumers in both countries. Goyal noted, “Our teams remain fully engaged in achieving this objective.”
What the report said
The Reuters report suggested that India’s confidence in its negotiating position has grown due to a stronger economic outlook and expanding trade partnerships. It claimed that months of negotiations did not yield an interim trade agreement during Greer’s visit, despite mutual expectations for a limited deal. The report indicated that talks stalled because the US did not meet India’s key demands, including preferential tariff treatment over competitors like China and assurances against additional US tariffs post-agreement.
An Indian government official was quoted as saying, “Our position is clear, we don’t intend to rush into a deal that is not on favorable terms or compromise on red lines like ceding ground on agriculture.” The report also mentioned that the Trump administration is advocating for quicker trade concessions ahead of anticipated tariffs. India’s reluctance to expedite the agreement could expose its exports to higher US duties and prolong uncertainty for businesses.
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