Piyush Goyal: India does not deal at gunpoint... Goyal spoke on US tariff pause

Piyush Goyal: The US has decided to suspend the 26% tariff imposed on India for 90 days. After this temporary suspension, a new rhythm is being seen in the trade relations between the two countries. According to the new executive order of the White House, now reciprocal duty will not be applicable on India till July 9.

Soon after this development, a statement of Union Commerce Minister Piyush Goyal came out, in which he bluntly said, "India never deals at gunpoint." He made it clear that India always waits for a peaceful and strategic time, so that the national interest can be protected.

During the Italy-India Trade, Science and Technology Forum held in Delhi, Goyal also said that India is making progress in trade talks with many countries including the US, UK, European Union. He said, "Our talks are inspired by the spirit of 'India First' and are being done keeping in mind the goal of developed India by 2047."

Earlier, Foreign Minister S. Jaishankar also stressed on trade talks with US leaders and said that India is looking forward to a trade deal with the US. He also said that India and the US are working to take the trade from $191 billion to $500 billion in 2023.

This pause in the trade equations between India and the US is being seen as an opportunity - where cooperation can be given a new direction. It will become clear in the coming months whether this 90-day moratorium leads to a permanent solution or opens the way to new challenges.