We negotiate from position of strength, not under deadlines: Goyal on US trade deal after Cong jab
Bengaluru, Jul 5 (PTI): With the Congress mocking the BJP-led NDA government over the proposed trade deal with the US, Union minister Piyush Goyal on Saturday said India negotiates from a position of strength and not under deadlines.
He also accused the Congress of "negotiating and signing agreements that were not in the national interest" during that party-led UPA government's tenure.
Leader of Opposition in the Lok Sabha, Rahul Gandhi had attacked Prime Minister Narendra Modi over the Indo-US trade deal, claiming the PM will "meekly bow" to the tariff deadline set by President Trump administration.
"India does not negotiate under deadlines. We negotiate keeping national interest in mind, and national interest is paramount in all our engagements across the world," Goyal, Commerce and Industry minister, told reporters here.
"After the Modi government came to power, we have signed free trade agreements with Mauritius, the United Arab Emirates, Australia, and the four-nation EFTA (European Free Trade Association) grouping—Switzerland, Norway, Iceland, and Liechtenstein—and now with the UK last month."
According to him, India continues to engage with other developed nations, including the EU bloc of 27 countries, the US, Oman, Peru, and Chile.
"Today, India negotiates from a position of strength. We are self-confident and can compete with anybody in the world. This is not the weak India under Congress and the UPA, which signed agreements that were not in the national interest," he added.
Goyal had earlier stated that India would accept the proposed trade deal with the US only when it is fully finalised and in national interest.
On Saturday, Rahul Gandhi had said in a post on 'X' that "Piyush Goyal can beat his chest all he wants, mark my words, Modi will meekly bow to the Trump tariff deadline."
The Congress has been attacking the PM for remaining silent and not countering US President Donald Trump's repeated claims of bringing a halt to hostilities between India and Pakistan after the Pahalgam terror attack.
On Friday, Goyal had said that FTAs are possible only when both sides benefit and involve a win-win agreement, when asked about the proposed interim trade agreement with the US.
"National interest should always be supreme. Keeping that in mind, if a deal is made, then India is always ready to deal with developed countries," he said.
Trump has set a deadline of July 9 to finalise the trade agreement with India.
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Power tariffs under BESCOM to rise from May 1
Bengaluru (PTI): Power bills for consumers under the Bangalore Electricity Supply Company Limited (BESCOM) will go up from May 1, following an order issued by the Karnataka Electricity Regulatory Commission (KERC) on Friday.
The hike comes after KERC allowed the BESCOM to recover a revenue deficit of Rs 2,068 crore incurred in 2024-25, from the consumers.
As a result, for every unit of electricity consumed in 2024-25, the customers will be charged an additional 56 paise, it said.
"BESCOM shall calculate, for each of the active consumers of FY2024-25 the amount to be recovered based on their actual energy consumption during FY2024-25. Such amount shall be recovered during FY 2026-27 in equal monthly instalments, to be called as 'FY25 True up Charges', commencing from the first meter reading date falling on or after 1 May 2026 and concluding with the reading date ending on 30 April 2027," the order said.
"It is further ordered that BESCOM shall maintain a separate head of account, allocated for the purpose, to record the adjustment of the said amount to ensure full recovery of the deficit," it added.
Similarly Chamundeshwari Electricity Supply Corporation Limited (CESC) has also recorded a revenue deficit of Rs 121.71 crore and can collect an additional 15 paisa per unit for consumption in 2024-25, official sources said.
