India-US trade deal LIVE | Goyal on Trump’s Russian oil condition: ‘Buying from US is in India’s own interest’

Commerce minister Piyush Goyal was asked again about Donald Trump’s condition that India will not buy Russian oil or he will re-impose tariffs. He has so far said that’s a matter being dealt with by the Ministry of External Affairs. This time, in the interview with ANI, the question was: If there is a lack of bilateral consensus on Russian oil or on defence matters, doesn’t that impact the trade deal too?

“No, not at all,” Goyal answered.

And added, “The buying of crude oil or LNG, LPG from the US is in India’s own strategic interests as we diversify our oil sources. But the decisions are taken by the buyers, by the companies themselves.”

He said the deal won’t discuss who will buy what and from where. “The trade deal ensures that the pathway to trade is smooth, ensures preferential access. FTAs (free trade agreements) are all about preferential access… When we’ve got an 18% reciprocal tariff, we have a preference over other developing nations who are usually our competition.”

ALSO READ | ‘Real sting’ in Trump’s order: US to track Indian oil imports, redo tariff if Russia link found, analyst says ‘coercion’

Shiv Sena (UBT) MP Priyanka Chaturvedi on Sunday criticised the BJP-led NDA regime over the India-US interim trade agreement, calling it “treacherous”.

Saying that the government has “handed over” the country’s national interest and policy to the US, she urged for the deal to be discussed in Parliament.

“This is betrayal, and under what compulsion was this done? Today, the government will have to come to the floor of Parliament to discuss this trade agreement… Government have been arm-twisted, and what were their reasons? All this should be discussed on the platform of Parliament,” she said, speaking to ANI.

AIMIM chief and Hyderabad MP Asaduddin Owaisi launched a sharp attack on the BJP-led central government over the India-US interim trade agreement, questioning its impact on Indian farmers in particular.

At a public rally in Karimnagar, Owaisi said the government often talks about ‘Self-Reliant India’ and ‘Make in India’, and has invested lakhs of crores in domestic manufacturing through the Production-Linked Incentive (PLI) scheme. “Our question to the BJP and RSS is… You started a production link incentive scheme. You used lakhs of crores of public money for domestic manufacturing capacity. Now the government agrees with the US that we will reduce tariffs. So, US industrial goods will come here; what will happen to your sectors under PLI?”

“PM Modi has told Trump that we will trade for $500 billion… If you are doing this, what will happen to farmers’ production? What will happen to the agricultural market here?” said Owaisi.

He also raised questions over the Russian oil “stop” clause.

Owaisi mentioned that Trump has warned that the US could re-impose the penal 25 per cent tariff on India if it imports oil from Russia.

“I want to ask, whether India’s petroleum minister is Trump or Hardeep Singh Puri. I don’t care if you abuse me. But tell me, is this the nationalism of the BJP and RSS? Is this your patriotism? China is taking full advantage of it. China is taking all the cheap oil,” Owaisi said.

Union agriculture minister Shivraj Singh Chouhan has said the framework for the trade agreement with the US will not harm Indian farmers; and that the US has, in fact, reduced tariffs on several Indian farm exports to zero.

At a press conference in Bhopal, Chouhan said, “PM Modi said that he will not let the country bow down and will not allow any harm to the interests of the farmers. This trade deal has taken both of these into account… If we look at agriculture and agricultural products, no product has been included to harm Indian farmers. All such products have been excluded from the trade deal.”

India’s former foreign secretary and retired diplomat Nirupama Menon Rao has noted that the US executive order rolling back the 25% “penal” tariff over Russian oil “says several things”.

“Strategically, this signals that energy choices are now treated as geopolitical behaviour, not just commercial decisions… The order also shows how strategic autonomy is being stress-tested,” she posted on X.

She added that “India’s leverage is visible” and the tariffs were reversible “because India matters — economically, strategically, and in the Indo-Pacific balance”.

“Washington is negotiating with India, not sidelining it… The larger takeaway: partnership brings opportunity, but also pressure. Managing that balance — preserving autonomy while navigating interdependence — will likely define the next phase of India’s foreign policy trajectory,” she wrote.

Donald Trump’s executive order, by which he removed 25% penal tariffs on India, says the US commerce secretary should track if India “resumes” such oil imports. This “monitoring mandate” is the “real sting” in Trump’s executive order, strategic affairs expert Brahma Chellaney has said.

“It opens the door to penalizing Indian refined fuels — diesel, jet fuel and other products — sold to Europe or the U.S. if Washington deems them to have originated from Russian crude,” Chellaney theorised in a post on X. “Donald Trump removes the tariff noose but leaves the rope firmly in place if India resumes buying Russian oil,” he also wrote.

India-US trade deal LIVE: Union minister Piyush Goyal highlighted safeguards in the joint statement released by India and US on the trade deal.

“..Safeguards are always there. So, it’s something which, if anybody is trying to highlight that it’s not in this two-page joint statement, is trying to mislead the people, and there’s still a lot of clarity required,” Goyal told PTI Videos.

He added that India had not granted any duty concessions for dairy products, GM (genetically modified) products, meat, poultry, soya meal and corn.

India-US trade deal LIVE: Union minister Piyush Goyal said the terms of the trade deal between India and United States were a “work in progress.”

“It’s a lot of things, which are yet to be brought in. And it cuts both ways,” Goyal said, adding that the US would equally want to safeguard its market. “Safeguards are always there,” the minister added.

India-US trade deal LIVE: Union minister Piyush Goyal said that the Centre had prioritised “public good” in all its trade negotiations. “This has yielded very good and speedy results, and I dare say that in none of the nine agreements have we compromised national interest,” Goyal told PTI Videos.

He said that all agreements were “fair, balanced, and equitable.” “Wherever economies were smaller and we felt that what we were giving was not adequately compensated by what we were getting, we supplemented it with additional inputs,” Goyal added.

India-US trade deal LIVE: Commerce minister Piyush Goyal said the trade deal with the US “has truly been a whole-of-government approach.”

“I must say I have been blessed to be guided in these negotiations by Prime Minister Narendra Modi, Home Minister Amit Shah, and my other colleagues in the Cabinet,” Goyal told PTI Videos. He added that he had been “very fortunate” to have an “outstanding team of negotiators” in the commerce ministry, who were supported “by other ministries and, at critical times, by the Prime Minister’s Office and the Cabinet Secretary.”

India-US trade deal LIVE: RSS chief Mohan Bhagwat, while speaking on the India-US trade deal, said the country would have to ensure that “we are not at a loss.”

“It is true that we can’t remain in isolation. In deals, there is give and take. It should be win-win…we have to ensure we are not at a loss,” PTI cited Bhagwat as saying.

India-US trade deal LIVE: On the India-US trade deal, Rashtriya Swayamsevak Sangh chief Mohan Bhagwat said the country cannot “remain in isolation.”

He further asserted that in deals, “there is give and take”, and it should be a “win-win” for both sides.

India-US trade deal LIVE: Union minister Piyush Goyal highlighted the Centre’s announcement in this year’s Budget on the promotion of data centres and AI missions.

“we announced in the budget that we want to promote data centres, we want to promote the AI mission, and we want to promote critical manufacturing and critical minerals processing in India. All of this will require high-quality machinery, ICT products, and Nvidia chips, as well as machinery for AI for quantum computing. Where is all of that going to come from?” Goyal said.

India-US trade deal LIVE: Highlighting India’s demands for aircraft and spare parts, Union minister for commerce and industry Piyush Goyal said, “We already have USD 50 billion worth of orders on Boeing alone for aircraft. We have orders for engines.”

“We are going to need aircraft. We are going to need engines for aircraft. We are going to need spare parts,” Goyal told PTI Videos. He said that $80-90 billion “is already on order for the next five years”, adding that India would need more than that.

“I read the other day that Tata plans to place some more orders. My sense is we need at least a 100 billion dollar plus only for the aviation sector, in addition to oil, LNG, LPG, and crude oil,” Goyal said.

India-US trade deal LIVE: Union commerce minister Piyush Goyal told PTI Videos that big tech firms had announced large investments in India.

“My sense is that we will see 10 gigawatts of data centres,” Goyal said, adding that for this, India would need equipment, which can be suu=pplied by the US.

India-US trade deal LIVE: Union minister Piyush Goyal said that India could source imports worth about USD 300 billion from the US that it currently buys from other countries.

“We are even today importing 300 billion dollars of goods that can be imported from the US. We are importing from all over the world. That is going to grow up to two trillion in the next five years…I told my counterparts that look, I can assure you that there is demand in India, but you have to be competitive,” Goyal told PTI Videos.

India-US trade deal LIVE: Union minister Piyush Goyal, while speaking about the behind-the-scenes of high-stakes negotiations before the final outcome, highlighted the importance of being sharp on the uptake, and to focus on the future.

“Negotiations are all about being sharp on the uptake, being able to crystal-gaze into the future, and looking at things laterally so that you do not get stuck at a point without understanding the multidimensional ramifications,” Goyal told PTI Videos.

He said that negotiations are also about “keeping your cool”, while adding that “occasionally, for effect, you may even lose your temper.”

India-US trade deal LIVE: Union minister for commerce and industry Piyush Goyal, in an interview with PTI videos, said the purchase of goods worth $500 billion from the US over the next five years would be “no problem at all.”

He further said that this number is very conservative, given that India’s growing economy would generate a demand of about USD 2 trillion.

India-US trade deal LIVE: Union minister for commerce and industry Piyush Goyal on Sunday said the India-US trade deal would “ultimately help our farmers”.

In an interview with PTI Videos, Goyal assured “adequate safeguards” for farmers in the deal, while promising an increase in their incomes due to the agreement.