NEW DELHI: Commerce and Industry Minister Piyush Goyal on Tuesday said the government was maintaining contacts with the United States at various levels regarding the proposed bilateral trade agreement (BTA), suggesting potential progress towards the deal.The minister, however, avoided specifying any timetable for the completion of negotiations on the BTA, noting that discussions are continuing without set deadlines. “Our negotiations with the United States are continuing continuously. Contacts are being maintained at different levels. We never negotiate on the basis of deadlines. There are many possibilities. All possibilities exist. Currently, the US government is in shutdown mode. In light of this, we will have to see how, where and when the negotiations can take place,” the Union Minister said during his visit to Qatar.
This comes barely two days later, with Foreign Minister S Jaishankar clarifying India’s position, speaking of “respecting the red lines”. Acknowledging that there are “problems” and “questions” in India-US relations that need to be resolved, Jaishankar said on Sunday that any deal on bilateral trade “must be one where our results, our red lines are respected.” “There has to be a trade deal with the United States. But… in any deal, there are things you can negotiate and things you can’t,” he added, asserting that India will not compromise on issues affecting the interests of farmers, small industries and fishermen.
Trade negotiations with the EU
Meanwhile, regarding the Free Trade Agreement (FTA) discussions with the European Union, Goyal said, “Very good discussions are taking place between the EU and India in Brussels. Our whole team is there. » He shared positive views on the partnership between the $20 trillion, 27-country European Union and India, currently the world’s fastest growing major economy.Goyal highlighted the advantages that both partners bring: India’s young and skilled workforce as well as the EU’s technological and innovative capabilities. “We hope to work together in a spirit of deep understanding of each other’s sensitivities so that we can achieve a very fair, just and balanced free trade agreement between the $20 trillion European Union of 27 countries and India, the fastest growing large economy in the world today, and we complement each other,” he said.Goyal added: “Our young, talented and qualified population constitutes an important resource for the European Union which needs talented young people. The innovation and technology base available to the European Union holds enormous potential for Indian businesses and jointly, European Union businesses and Indian businesses can leverage each other’s strengths so that we can serve the world together.He announced that Commerce Secretary Rajesh Agarwal would travel to Brussels to meet his counterpart once the ongoing discussions are completed, thereby planning the next steps.Addressing the FTA timetable, Goyal said: “I have often said that we do not conduct negotiations with a deadline and we also do not like to delay negotiations unnecessarily. So we will do everything possible to meet the expectations of the leaders and complete the negotiations before the end of the year and I see enormous potential and possibilities.”
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