Speaking at an event here, Goyal said he would be “happy” if a deal is finalised before July 24, when Washington’s temporary 10% tariff on trading partners is due to expire. However, he reiterated that India does not negotiate to deadlines.
“The faster, the better,” he said, adding that negotiations had taken longer than initially expected because India was, at one stage, subject to 50% tariffs.
“We’ve gone through the negotiations over the last one year, and by and large things are sorted out…. Despite all the areas of concern, India persevered to protect the interest of farmers, fishermen. We were certain about the certain red lines that we won’t cross,” Goyal said.
Greer and Goyal are scheduled to hold talks on June 23-24.
The Office of the USTR said Greer will travel to New Delhi to meet Goyal and other senior Indian officials to discuss the “historic US-India joint statement and the interim agreement as part of the broader US-India bilateral trade agreement negotiations” for achieving “fair, balanced and reciprocal trade with the US”.
Goyal said India has signed several trade agreements but hasn’t opened dairy “which is a very sensitive sector” and that it is not a question of getting brownie points as any one-sided deal can never sustain for long.The two countries remain “seriously engaged” in expanding cooperation in defence, critical minerals and investment.
“India never negotiates with a deadline. July 24, the tariff of 10% will expire. It’ll expire in the US. And that is not something which I have to be worried about… if the first tranche of the BTA is completed before July 24, I will be the happiest person,” he said.
“My interest is that it should get completed… if I can get a competitive advantage over my other competing nations, neighbours, our northern neighbour China… Whether it is the Asean countries, Vietnam, Indonesia, countries with whom we are in direct competition,” Goyal said. “The faster the better because we can start exporting more goods to the US. But bear in mind both the US and India have a very deep strategic partnership. Trade is one element of our partnership,” he added.