India’s Union Commerce Minister Piyush Goyal has said that securing the interest of our country and people is the foremost priority for the government and added that India never negotiates with any country at gunpoint. 
Goyal was replying to a question on US President Donald Trump’s decision to freeze reciprocal tariffs on 75 countries, including India, for 90 days. He added that Indian officials are in continuous talks with their US counterparts for a trade pact.

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“We never negotiate on gunpoint. Favourable time constraints motivate us for quicker talks, but till the time we are not able to secure the interest of our country and our people, we do not hurry,” Goyal said while speaking on the sidelines of the Italy-India Business, Science and Technology Forum in Delhi.

His comments came after US President Donald Trump on Wednesday put a 90-day pause on reciprocal tariffs.
At present, the US reciprocal tariff on India stands at 10 per cent. 

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“India is one of the first nations to start talks over a deal with the United States and to have jointly agreed to a deadline to conclude it,” reported news agency Reuters, citing an Indian official.

In February, India and the US agreed to work on the first phase of a trade deal and wrap it up by autumn 2025. The two countries aim to take bilateral trade to $500 billion by 2030.

Goyal said that trade talks proceed between two nations when both are sensitive to each other’s concerns and requirements. “All our trade talks are progressing well, in the spirit of India First, and to ensure our pathway to Viksit Bharat @ 2047 in the Amrit Kaal,” he added.
The Union Minister said India’s negotiating team is working with ‘speed’ but not ‘in undue haste’ to ensure the best possible outcome for the nation.
Goyal has requested exporters to not panic and reassured them that India is working towards the “right mix and right balance” in its proposed trade agreement with the US. 

Meanwhile, an official said India would raise scrutiny on imports to spot any potential dumping of goods, including from China.

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‘We are exploring export opportunities due to tariff war’

“We are exploring export opportunities because of the tariff war. A fresh exercise is being done as both sides are uncertain about the tariffs,” an official told ET.
The commerce and industry ministry has started identifying export opportunities emanating from the US-China trade war. 

Officials said that the 90-day tariff reprieve would give Indian exporters and their overseas buyers time to share the burden of additional 10% tariffs. 

The Sensex on Friday surged about 1,500 points, while Nifty came close to crossing the 22,900-level in a short-covering rally after Thursday’s market holiday.

(With inputs from agencies)