India's Commerce Minister Piyush Goyal emphasised that the country will not rush into trade agreements or negotiate under duress, asserting that India prioritizes its national interests in ongoing trade discussions.

This statement follows U.S. President Donald Trump's decision to pause reciprocal tariffs on India for 90 days, creating a window for advancing bilateral trade negotiations. Speaking at the Italy-India Business, Science, and Technology Forum, Goyal highlighted India's commitment to ensuring any trade deal aligns with its "India First" policy and long-term goals, such as achieving "Viksit Bharat" by 2047 during the Amrit Kaal.

Goyal stressed that favourable time constraints could motivate quicker negotiations but reiterated that India would not compromise its interests for expediency. He noted that successful trade talks require mutual sensitivity to each side's concerns and requirements.

External Affairs Minister S. Jaishankar echoed similar sentiments at the Carnegie Global Technology Summit, stating that India's trade negotiations with the U.S. are challenging but urgent given the shifting global dynamics under Trump's ambitious policies. Jaishankar acknowledged the evolving U.S.-India relationship, emphasising the need for mutual understanding to finalize any agreement.

India and the U.S. aim to negotiate the first tranche of a beneficial multi-sector Bilateral Trade Agreement (BTA) by fall 2025, as announced during Prime Minister Modi's recent visit to Washington. 

The deal seeks to double bilateral trade to $500 billion by 2030 under "Mission 500." Key areas of focus include increasing market access, reducing tariff barriers, and deepening supply chain integration. However, India remains cautious about lowering tariffs on agricultural products due to potential impacts on farmers while being open to industrial tariff adjustments.

Simultaneously, India is advancing trade talks with other nations and blocs like the European Union and EFTA countries. Goyal highlighted India's careful and calibrated approach to Free Trade Agreements (FTAs), ensuring they are fair and balanced through extensive stakeholder consultations.