Will not rush into signing trade agreements, reject conditions that restrict choices: Piyush Goyal

India will not rush into signing any trade agreements, and it will reject conditions from partner countries that restrict its trading choices, Union Minister of Commerce and Industry Piyush Goyal said Friday.

While speaking at the Berlin Global Dialogue, Goyal said India would take a “measured approach”.

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He also met Deputy Prime Minister & Minister of Foreign Affairs and Trade of Luxembourg, Xavier Bettel. Both leaders reviewed the progress in economic relations and explored further avenues to strengthen bilateral trade and business relations. They also discussed the upcoming State Visit to India as well as regional and global developments.

During his speech, Goyal underscored that trade deals are not merely about tariffs or market access, but also about building relations, trust, and creating sustainable frameworks for global business cooperation.

“In a very short-term context, it’s not about what is going to happen in the next six months. It’s not just about being able to sell steel to America,” he noted.

“India’s approach to trade negotiations is not driven by a pressure to meet immediate targets, but by a long-term vision. Trade deals are for a longer duration. It’s not only about tariffs, it’s also about trust and a relationship. Trade deals are also about businesses,” he said.

As part of his Germany visit, Goyal also held one-on-one discussions with CEOs of leading German companies, including Jochen Hanebeck, CEO, Infineon Technologies AG, Klaus Rosenfeld, CEO, Schaeffler Group, Michael Masur, CEO, Renk Vehicle Mobility, Martin Herrenknecht, CEO, Herrenknecht AG, Tobias Bischof-Niemz, Board Member, Enertrag and Ola Kaellenius, CEO, Mercedes-Benz.

The discussions focused on synergies and prospects for increased collaborations between Indian and German companies, especially in critical sectors like defence, energy, emerging technologies and mobility.

The business leaders reiterated their optimistic outlook on doing business in India and the intent to further strengthen their economic partnerships.