New Delhi: Union Commerce Minister Piyush Goyal has said that the India-US trade deal will be completed. Notably, negotiations over the trade deal have been going on amid US President Donald Trump’s 50 per cent tariffs on India. Goyal made the revelation during an interview with the Hindustan Times three days after the India-EU deal was signed.
Goyal appreciates deal, does not reveal deadline
While Goyal lauded the prospective deal, he also told HT, “We are actively engaged. We never do any deal with a deadline in mind. When both sides are satisfied, the date will be announced.” He added, “I don’t think there are any sticky issues left to be resolved. We can now look at moving towards closure.”
Goyal also spoke about Canadian Prime Minister Mark Carney’s visit to India in March. He said that Canada
is “very keen to speed it up. We are working with them on the terms of reference. But, we have to start from scratch.” Regarding the deals with the UK and EU, he said, “The UK one was a fantastic deal. This EU FTA is also equally good. However, very rarely can you just emulate one deal because the conditions, economy size, and interests of each country matter. Each deal stands on its own legs.”
PM Modi has changed this: Goyal
He commented on the difference between the perspectives towards India earlier and at present. During the interaction with HT, Goyal said, “One of the biggest differences between the past and today is that India is a respected country. People see political stability, they see macroeconomic stability, and they see decisive leadership. So, now there is a want and a desire from the other side equally to do business and engage with India.”
Explaining how India’s negotiation power has improved, Goyal said, “Earlier, we would be negotiating on the current economy, which is a wrong strategy. PM Narendra Modi has changed this. Modiji has said, ‘You are negotiating the future FTA.’ The past is not material. He added, “Today’s $4 trillion economy of India is not material. Our $30 trillion economy in 2047 is what you are negotiating. And that is what is attracting the people on the other side. So, now when I negotiate, I negotiate either as an equal or as the person who’s got more to offer than to receive. And therefore, we get super deals.”