Berlin/New Delhi, Oct 24 – Commerce and Industry Minister Piyush Goyal stated that India approaches trade agreements with caution, emphasizing that the country does not rush into deals or negotiate under pressure.

During his participation in the Berlin Dialogue in Germany, Goyal highlighted that India is currently engaged in active negotiations for trade pacts with various entities, including the European Union (EU) and the United States. He reiterated the importance of a long-term perspective when considering trade deals, asserting that India does not make hasty decisions or act impulsively.

Goyal mentioned that India is exploring new markets to mitigate the impact of high tariffs. When questioned about the fairness of trade deals and whether they come with long-term conditions, he asserted that India’s alliances are based solely on national interest. He rejected the notion that external pressures could dictate India’s relationships with countries, stating, “I do not think India has ever decided who its friends will be based on any other considerations other than national interest.”

These comments are particularly relevant as the US has been urging India to cease its crude oil purchases from Russia.