New Delhi | India has certain "red-lines" in its trade negotiations with the US and New Delhi will not compromise on protecting the interests of farmers and small producers, External Affairs Minister S Jaishankar said on Saturday.
Jaishankar said the negotiations for a trade deal between the two sides are underway.
Speaking at the Economic Times World Leaders Forum, Jaishankar also said that US President Donald Trump's way of dealing with the world is a very major departure from the traditional way of doing so and the entire world is facing this issue.
"We've not had a US president who has conducted foreign policy as publicly as the current one. That itself is a departure that's not limited to India," he said.
The relations between New Delhi and Washington are on a downturn after Trump doubled tariffs on Indian goods to a whopping 50 per cent, including 25 per cent additional duties for India's purchase of Russian crude oil.
The external affairs minister said trade is "really the major issue" between the two countries.
"The negotiations are still going on and the bottom line is we have some red lines." "The red lines are primarily the interest of our farmers and to some extent small producers. So when people pronounced that we succeeded or failed etc." "My answer to this is -- we as a government are committed to defend the interests of our farmers and small producers. We are very determined on that.
That's not something we can compromise on." The external affairs minister also responded to repeated allegations by Trump administration officials that India is "profiteering" by buying discounted Russian crude oil and then selling refined petroleum products at premium prices in Europe and other places.
"It's funny to have people who work for a pro-business American administration accusing other people of doing business," Jaishankar said.
"That's really curious. If you have a problem buying oil or refined products from India, don't buy it. Nobody forces you to buy it. But Europe buys, America buys, so you don't like it, don't buy it," he added.
The external affairs minister also rejected observations that India's relations with China are improving in view of strain in New Delhi-Washington ties.
"I think it would be a mistaken analysis to try and crunch everything and make it into an integrated response to a very specific situation," he said.