India’s Commerce Minister Piyush Goyal said why western countries are pointing fingers only at India, while European countries themselves are demanding concessions on Russian oil from America. He said, “Germany is asking for exemption, Britain has already got exemption, then why is India being targeted?”
Goyal said this at the Berlin Global Dialogue event held in Germany, where he was sharing the stage with Britain’s Trade Minister Kemi Badenoch. When Badenoch said that the exemption was only Russia The company is for a branch of Rosneft, Goyal replied, “We also have a branch of Rosneft here.”
This statement came when America And its partner countries are pressurizing India to reduce the purchase of cheap oil from Russia. Last month, America increased the tax on goods coming from India to about 50 percent. India has called it unfair.
America says that if India stops buying oil from Russia, the pressure to end the Russia-Ukraine war will increase. The European Union has also imposed sanctions on three Indian companies, saying they have links with the Russian military.
This week, America also targeted two big Russian oil companies – Rosneft and Lukoil and imposed new sanctions.
Goyal said that India does not take any decision in haste or under anyone’s pressure. “We do deals when we feel it is right for the country. If someone taxes us, then tax us – we are trying to expand business into new countries and focus on being strong in the long run,” he said.
Also read: ‘No hurry’, ‘No hurry, do not compromise at gunpoint’, India blunt on deal with US
He told that India aims to become a 30 trillion dollar economy in the next 20–25 years. “We take decisions looking at the future and always make the best deal for the country,” Goyal said.
He also said that India’s policy is decided only on its national interest. “India never decides on friendship or trade on someone’s advice. If someone says don’t work with Europe or Kenya, it will not be accepted,” he said.
Goyal said, “Business is not just a matter of tax or market, it is based on trust and relationships.” India is currently negotiating new trade agreements with America and Europe. The aim of India and America is to take the trade between the two countries to 500 billion dollars by 2030.
In the end, Goyal said that India’s economy stands on a strong foundation, we have 1.4 billion energetic youth, and we are moving forward without coming under anyone’s pressure.
—- End —-
