NEW DELHI: Centre on Monday firmly rejected reports claiming that India was delaying an interim trade agreement with the United States, calling them “completely false, baseless and misleading” and asserting that negotiations between the two countries remain on track.The clarification came after a Reuters report claimed that India was unwilling to rush into a trade pact with Washington and was instead holding out for more favourable terms despite growing pressure from the US.Union commerce minister Piyush Goyal dismissed the report in a post on X, saying, “The news is completely false, baseless and misleading.”Goyal said he had held “fantastic meetings” with US Trade Representative (USTR) Jamieson Greer during his visit to New Delhi in June, and stressed that both sides remain committed to concluding a balanced and mutually beneficial agreement.“I had fantastic meetings with USTR Jamieson Greer, when he visited Delhi in June. Both sides reaffirmed their commitment to an agreement that is balanced, commercially meaningful, and delivers tangible benefits for businesses, farmers, workers, and consumers in both countries,” Goyal said.“Our teams remain fully engaged in achieving this objective,” he added.What the report saidAccording to Reuters, India has become more confident in its negotiating position due to a stronger economic outlook, expanding trade partnerships and recent political gains.The report said months of negotiations failed to produce an interim trade agreement during Greer’s visit to New Delhi last month, despite expectations on both sides that a limited deal was within reach.It claimed the talks stalled because Washington did not meet India’s key demands, including preferential tariff treatment over competitors such as China and assurances that no additional US tariffs would be imposed after the agreement.“Our position is clear, we don’t intend to rush into a deal that is not on favourable terms or compromise on red lines like ceding ground on agriculture,” Reuters reported, quoting an Indian government official.The report also said the Trump administration has been pushing for quicker trade concessions ahead of another round of tariffs expected later this month. India’s reluctance to fast-track an agreement, it added, could leave its exports exposed to higher US duties and prolong uncertainty for businesses.Reuters further said that after Greer’s visit, Goyal had indicated that any trade agreement would proceed only if it secured clear benefits for India. A US source familiar with the negotiations told the agency that Washington believes India must make reciprocal concessions before receiving the preferential trade treatment it is seeking.Another US official, speaking on condition of anonymity, said negotiations were continuing and Washington still expected an agreement, although no timeline had been fixed. The official reportedly described India as “slow, bureaucratic and difficult” during the talks, indicating that a quick breakthrough remained unlikely.
