Jaishankar Stresses ‘India First’ In Trade Talks Amid Trump’s Incoming Tariff Move

External Affairs Minister S Jaishankar, speaking at Business Today Mindrush 2025, underscored the importance of balancing the costs of action against inaction in the ongoing trade agreement talks.

Following threats of reciprocal tariffs from United States President Donald Trump, the Indian government has repeatedly stressed that the nation's interests remain paramount and confirmed that discussions are in progress.

Photo Credit: PTI

Addressing trade agreements, S Jaishankar noted that India is currently involved in three key negotiations, including one with the United States.

"Trade Agreements have always occupied a salient position when it comes to global economic engagement. This is even more so now, a reality that India must recognise. Currently, we are engaged in three particularly important negotiations - the FTAs with European Union and the United Kingdom and the Bilateral Trade Agreement (BTA) with the United States. Just this week, we launched negotiations with New Zealand as well. A few others are already in the pipeline," the minister stated.

He went on to highlight the necessity of evaluating the price of action versus inaction, particularly regarding India's access to sensitive technologies.

"In the current uncertain and volatile world, it is essential that we appreciate the value of such endeavours. We have to carefully assess their costs and benefits, as well as weigh the price of action versus inaction. There could also be collateral benefits of such understandings, especially in sensitive technologies," he said.

S Jaishankar also reaffirmed India's commitment to an 'India First' stance.

The minister elaborated, "India will obviously take an India First approach in this regard, with Viksit Bharat as the goal. Obviously, thinking will also be guided by the prospect of tapping unrealised potential in these relationships. Most of our earlier FTAs are with Asian economies, many of a competitive character. Introducing an overall balance by engaging the Gulf and Western economies has not just an economic logic, but a strategic one as well."

On Friday, Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal had remarked that India continues to engage with the US administration at "various levels" to forge a trade agreement beneficial to both sides.

Aligning with his 'America First' policy, Trump earlier this month declared plans for reciprocal tariffs on partners and other nations imposing higher duties on US imports. On Wednesday, he commented that he enjoys a "very good relationship" with India but pointed out that the country imposes excessively high tariffs on the United States.