‘Won't rush on trade deal to meet deadline’

India will not hurry into signing a free trade agreement under pressure from any deadline, commerce minister Piyush Goyal said on Friday, when asked whether a deal could be reached with the US in time for a July 9 deadline set by Washington.

- Rajeev Jayaswal

Speaking on the sidelines of the 16th Toy Biz International B2B Expo in New Delhi, Goyal emphasised that India is ready to make trade deals in the national interest but it “never negotiates trade deals with a deadline”.

When asked specifically about prospects of an interim US deal by July 9, he said any agreement would be announced only when “fully finalised, properly concluded and in the national interest.”

The minister's comments came as India’s negotiating team, led by chief negotiator Rajesh Agrawal, returned to Delhi Thursday after week-long talks in Washington. Despite having a draft interim agreement in hand, people familiar with the discussions said, key issues around automobiles and agriculture remain unresolved.

The government has refused to fully open its agriculture sector, particularly around genetically modified crops and dairy products. The country remains unwilling to allow items like soybean and corn unless certified as non-GM, since GM crops are banned domestically.