No Rush for Bad Deals: Piyush Goyal Says India Won’t Bow to Deadline Pressure on US Trade Pact

Commerce and Industry Minister Piyush Goyal on Friday firmly rejected the notion that India would rush to sign the proposed Indo-US Bilateral Trade Agreement (BTA) under any deadline pressure, insisting that New Delhi will only accept deals that deliver mutual benefit and protect India’s national interest.

Speaking on the sidelines of the 16th Toy Biz B2B Expo in New Delhi, Goyal underlined India’s unwavering approach to trade negotiations: “It should be a win-win agreement. National interest will always be supreme. Only when India's interests are safeguarded will we enter into such deals.”

The minister’s comments come amid intense focus on the stalled India-US trade talks, with Washington reportedly pushing for a July 9 deadline to finalise a "mini deal" as part of broader negotiations. Goyal’s remarks send a clear signal that India is not prepared to make concessions simply to meet imposed timelines.

Highlighting India’s negotiating strength, Goyal said discussions are ongoing with multiple partners around the world, including the European Union, New Zealand, Oman, the US, Chile, and Peru. However, he cautioned that the breadth of negotiations does not mean India is desperate to sign deals quickly.

“A free trade agreement is only possible when there is mutual benefit,” he explained. “India never enters into trade deals based on deadlines or time pressure. A deal is accepted only when it is fully matured, well negotiated, and in the national interest.”

Goyal’s comments reflect India’s determination to secure better terms for its economy and businesses amid a changing global trade landscape. The stance comes as the US has threatened to impose new tariffs on Indian goods if a deal is not finalised by mid-July, escalating tensions between the world’s largest democracies.

On the expo’s sidelines, Goyal also turned the spotlight on India’s booming toy industry, praising domestic manufacturers for their quality and export potential. “I am sure with the high-quality goods I’m seeing here, they will all find good markets across the Gulf and in 153 countries,” he said.

He announced that the government will soon unveil new support and incentive schemes for the sector. Emphasising the vast domestic demand, Goyal noted, “Considering that we have a market of 1.4 billion Indians who would like to use toys, at every age there is a demand for toys.”

He described the toy sector as a growing industry “with eyes on the world,” reflecting India’s ambition to turn its demographic advantage into a global manufacturing success story.

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