Berlin – At the Berlin Global Dialogue on Friday, Indian Commerce and Industry Minister Piyush Goyal firmly addressed concerns regarding India's trade practices, particularly in relation to its engagement with Russia amidst geopolitical pressures. During a session focused on navigating the evolving global trade landscape, Goyal responded to perceived double standards in international trade, particularly from the UK, emphasizing India's commitment to fair and equitable partnerships.
The core of Goyal's message revolved around India's sovereign right to make decisions based on its national interest. When questioned about potential conditions attached to trade deals, Goyal asserted that India determines its alliances based on its own considerations, not external dictates. He stated firmly that India would not accept being told who it can or cannot be friends with.
Goyal directly challenged the singling out of India for its continued purchase of Russian oil, a point of contention with several Western nations. He referenced reports of other countries, including Germany and the UK, seeking exemptions or having already secured exemptions from US sanctions on oil, questioning why India was being uniquely targeted. This comes as the US has reportedly been urging India to cease its crude oil imports from Russia.
"I do not think India has ever decided who its friends will be based on any other considerations other than national interest... and somebody tells me you can't be friends with the EU, I won't accept that or somebody tell me tomorrow, I can't work with Kenya, it's not acceptable," Goyal stated.
The Minister's remarks come against the backdrop of ongoing trade negotiations between India and several major global players, including the European Union and the United States. Goyal stressed that India is actively engaged in discussions with both the EU and the US but will not rush into any agreements that compromise its long-term interests or strategic autonomy. He reiterated that India does not approach trade deals with deadlines or with a "gun to our head".
Goyal emphasized that India views trade agreements as long-term partnerships built on mutual trust and respect. He cautioned against trade arrangements that impose restrictive conditions or jeopardize India's strategic independence. He highlighted the importance of trust and relationships in trade, viewing deals as more than just tariffs and access to goods and services.
India's stance reflects a broader strategy of exploring newer markets and strengthening its domestic economy to reduce reliance on external pressures. The country is actively seeking to diversify its trade relationships and enhance its economic resilience.
Goyal is in Germany to strengthen bilateral economic ties and discuss the India-EU free trade agreement, with hopes to conclude negotiations before the end of the year. He is also scheduled to meet with Luxembourg's Deputy Prime Minister Xavier Bettel to discuss bilateral trade and Luxembourg's upcoming state visit to India.
