New Delhi, October 5, 2025: External Affairs Minister S. Jaishankar on Sunday emphasized the importance of reaching a trade understanding with the United States, highlighting that it is not only the world’s largest market but also a crucial step as many other countries already maintain such arrangements.
Speaking at the Kautilya Economic Forum in New Delhi, Jaishankar acknowledged ongoing challenges in trade negotiations with the US, noting unresolved issues including tariffs on Indian goods and crude oil imports from Russia. “There are problems, there are issues. These need to be negotiated, discussed, and resolved,” he said, stressing that negotiations must respect India’s bottom lines and red lines.
The minister described recent US tariffs as “one-sided” and stressed that India aims for a mutually beneficial trade agreement, adding that Commerce and Industry Minister Piyush Goyal’s recent high-level visit to the US had produced positive results.
Jaishankar also addressed India’s broader trade strategy, noting efforts to diversify trade towards Asia, where earlier free trade agreements were largely with ASEAN countries, Japan, and Korea. However, he acknowledged the challenge posed by these economies being direct competitors and, through integrated supply chains, inadvertently facilitating greater market access for China.
He stressed that India’s future Free Trade Agreements (FTAs) will target economies that are not direct competitors, offering deep, stable, and predictable markets. Highlighting strategic priorities, Jaishankar cited ongoing negotiations with the UK, EU, and the US, reflecting India’s pivot toward securing robust and sustainable global trade relationships.
Jaishankar Stresses Need for India-US Trade Understanding Amid Tariff Disputes
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