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On the proposed India-US trade agreement, Goyal said both sides had already finalised the deal earlier, but fresh global developments led to changes in negotiations.
Union Commerce Minister Piyush Goyal. (Image: PTI/File)
Union Commerce Minister Piyush Goyal on Friday defended the recent petrol and diesel price hike, saying the increase was limited and had not put major pressure on the public.
Speaking exclusively to CNN-News 18, Goyal said the rise in fuel prices was much lower than what many had predicted.
“The price hike is so modest that it doesn’t cause much stress to people,” Goyal said. Responding to a question on the possibility of another increase in petrol and diesel prices, he added, “I don’t know and can’t comment as it’s not my department.” He further said, “But it’s commendable how under PM Modi’s leadership, the hike was only of Rs 3 as opposed to everyone saying it’s going to be Rs 15.”
On the proposed India-US trade agreement, the minister said both sides had already finalised the deal earlier, but fresh global developments led to changes in negotiations. “We had already finalised the deal but post that there have been some changed circumstances,” he said.
Goyal said India is now working to ensure better market access in the United States through revised terms in the agreement. “As a part of that deal, whenever there were changed circumstances the deal had to be calibrated so that India gets preferential access in the US markets,” he said.
He also confirmed that discussions are underway to settle issues related to American investigations under Section 301. “We are in the process of finalising that with the US govt and also resolving all the investigations under section 301,” the minister stated.
Speaking on exports, Goyal said Indian exporters have continued to perform strongly despite global uncertainty, including US tariffs and tensions in West Asia. “We have taken steps because of which despite all the challenges India’s exports continue to be strong,” he said. “We have grown despite US Tariffs and West Asia conflict. In April the growth is in double digit.”
His remarks came as India on Friday raised the price of petrol and diesel by around Rs 3 per litre across the country after a rise in global crude oil prices linked to tensions in West Asia and supply concerns in the international market.
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