Stressing that negotiations are underway with the United States over a 50 per cent tariff on Indian goods, Union Minister of Commerce and Industry Piyush Goyal said that there is no need to "panic" as India and the US will come to an equitable, balanced and fair agreement, reported news agency ANI.

In an interview with ANI on Thursday, Piyush Goyal assured that India and the US continue to have good relations.

He said, "I do not think there is any need to panic. We should allow the negotiations to happen. We continue to have good relations with the United States, and I am sure we will be able to resolve some of these issues and come to an equitable, balanced and fair agreement," reported ANI.