No trade deal under time pressure: Piyush Goyal on US pact

India does not enter into any trade agreement based on deadlines and will accept the proposed trade deal with the US only when it is fully finalised, properly concluded and in the national interest, Commerce Minister Piyush Goyal said on Friday.

He also said India is negotiating free trade agreements (FTAs) with different countries, including the European Union, New Zealand, Oman, the US, Chile and Peru.

FTAs are possible only when both sides get benefitted and it should be a win-win agreement, he told reporters when asked about the proposed interim trade agreement with the US.

“National interest should always be supreme. Keeping that in mind, if a deal is made then India is always ready to deal with developed countries,” Goyal said.

When asked if an interim trade agreement between the two countries is possible by July 9, he said, “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.”

July 9 marks the end of the 90-day suspension period of the US President Donald Trump-announced tariffs imposed on dozens of countries, including India. An additional import duty of 26 per cent was announced on Indian goods entering the US.