Commerce and Industry Minister Piyush Goyal stated on Tuesday that India will not compromise the interests of farmers, dairy producers, and workers in its trade agreements. He emphasized this commitment while addressing attendees at Udyog Samagam 2025, a conference for industry and commerce ministers from various states.
Goyal noted India is exploring new markets, including Russia, particularly for its fishery sector, which has encountered challenges due to high tariffs imposed by the United States. Additionally, he confirmed that India and the US are engaged in negotiations for a bilateral trade agreement, highlighting the completion of five rounds of discussions to date.
“We are working for a good trade deal. India is not going to compromise with the interests of farmers, dairy and workers. We are aiming for a fair, equitable, and balanced trade deal,” Goyal remarked. He further stated that the timeline for a potential agreement remains uncertain, suggesting it could be finalized at any moment—tomorrow, next month, or even next year—but reassured that the government is prepared for all scenarios.
An official involved in the negotiations remarked that another round of talks may not be necessary, indicating that the US needs to respond to India’s proposals. This official stressed that India is negotiating a comprehensive and detailed trade deal that complies with World Trade Organization rules while meticulously safeguarding its sensitive sectors.
In addition to negotiations with the US, discussions regarding the India-New Zealand Free Trade Agreement are nearing completion. New Zealand Trade Minister Todd McClay is scheduled to visit India on Friday to further advance these talks. Furthermore, the official indicated that negotiations concerning the India-European Union trade pact are progressing, with EU Trade Commissioner Maros Sefcovic expected to visit India in the second week of December to engage in discussions.
