India does not enter into any trade agreement based on deadlines or time frames and will accept the proposed trade deal with the US only when it is fully finalised and in the nation's interest, Union commerce minister Piyush Goyal said on Friday, PTI reported.
Goyal made the remarks in response to a question on whether an interim trade agreement between the US and India would be signed by July 9, after which US President Donald Trump's retaliatory tariffs on imports from India are expected to take effect.
“India never does any trade deal based on deadline or time frame. When the deal is done properly, and is completely finalised and is in the country's interest, then we will accept it,” Goyal said, according to PTI.
Also Read | As India-US trade talks enter final stage, all possibilities still on table
The minister mentioned that India is presently involved in trade negotiations with several countries.
"Discussions are ongoing with various countries -- be it the European Union, New Zealand, Oman, the US, Chile, or Peru. Talks about agreements are underway with many nations," he said, according to ANI.
{{/usCountry}}"Discussions are ongoing with various countries -- be it the European Union, New Zealand, Oman, the US, Chile, or Peru. Talks about agreements are underway with many nations," he said, according to ANI.
{{/usCountry}}Also Read | Donald Trump hints at trade deal with India with 'much less tariffs' amid deadlock
Goyal also stressed that the multiplicity of negotiations does not mean India is in a rush to conclude deals. "A Free Trade Agreement is only possible when there is mutual benefit," he said.
Goyal's comments comes on a day an Indian team, headed by chief negotiator Rajesh Agrawal, returned from Washington after completing another round of discussions on an interim trade agreement between the two countries.
Also Read | India seeks exemption from US' 10% baseline tariff
According to an unidentified official cited by PTI, discussions between Delhi and Washington will continue as certain issues in the agri and auto sectors still need to be resolved. "Indian team is back from Washington. Negotiations will continue. There are certain issues which need to be resolved in agriculture and auto sectors," the official said.
The Indian team was in Washington for negotiations on an interim trade agreement with the US from June 26.