President Donald Trump imposing steep import prices on several key business partners such as Canada, Mexico, and his biggest trading partner China, many are concerned about the potential impact of imminent punitive rates on imports of India. This could affect the country’s economy and hamper the growth in importation.
However, it is too early to worry about such a negative impact, believes that the Minister of Commerce Piysuh Goyal. In the TODAY BUDGE TABLE BUDGE TABLE 2025, in the conversation with India Today, the director of news and the executive director of Rahul Kanwal affairs, the minister has attenuated some of the concerns that many investors and exports have currently.
According to Goyal, the Indian government and the former American governments had a very good relationship. “We had a wonderful relationship. We have never allowed any of the questions to come in American-Indian trade discussions (earlier), “said Goyal, adding that we are not concerned about a negative impact of prices for the moment.
“I don’t want to pre -empt myself. We have to look at the signals. I don’t see any cause of concern. We are two mature countries, ”added Goyal.
Speaking of the issue of illegal immigration as a new US government under President Trump began to expel the Indians who illegally stayed in the developed country, Goyal says that this is in accordance with the long -term policy of the Indian government. “India as a policy has long practiced that we will not tolerate illegal immigration. It is an area where policies in India and the United States have been completely aligned. »»
However, he also points to the disparity in official commercial numbers between the United States and India. According to him, several ways of money are transported by plane in the United States from India which is not taken into account during the calculations. For example, he cites the example of Indian students spending 12 to 13 billion dollars each year in the United States.
While the former Minister of Finance, P. Chidambaram, underlined the lack of commercial treaties of Bi and multilateral during the era of the government of Modi, Goyal says that as a policy, the government will not sign such treaties Unless it serves national interest.
“We will sign an Ale when we find it in the interest of the nation, not with a weapon pointed on our head. So there is no haste; There is no deadline to sign an Ale. For the government, the national interest is essential, not a deadline, ”explains Goyal
