New Delhi: Union Commerce Minister Piyush Goyal on Wednesday said that India is in no hurry to strike a trade deal with the US, as “trade deals are not simple, and one has to look at the next 10-30 years”.
“Our (trade) discussions with US have been going extremely well. Trade deals are not simple, there are lots of complexities and one has to look at the next 10-30 years,” News18 quoted Goyal as saying at an event.
Goyal said every aspect of a negotiation will be studied in greater detail, adding that national interest and the interest of small businesses will not be compromised.
“I would rather study every aspect of every negotiation in greater detail and make sure that I’m not letting go of the national interest, the interest of small businesses and the interest of the domestic industry at all,” he added.
Assuring that some deals made from 2009-11 were done in a rush. But he said that he would “go slow and steady”.
“Some of the trade deals from 2009-2011 were done in a rush in the past and transactions were closed are a matter of concern for India as a nation. And I would rather go slow and steady,” he said.
Goyal also emphasised on the need to bring down the level of cash in the economy. “We have to see how we can bring down the level of cash in the economy. Cash as a percentage of Gross Domestic Product (GDP) needs to be reduced. We should be ready for any or every step needed to curb black money but there is nothing on the table as of now.”