New Delhi, Feb. 8 -- Union Commerce and Industry Minister Piyush Goyal on Sunday provided a clarification on the USD 500 billion figure mentioned in the India-US interim trade agreement, noting that India doesn't have to but "intends to purchase" products worth that amount, noting that there was not any binding purchase obligation as per the framework.

In an interview with ANI, Goyal said the interim trade understanding does not require India to purchase specific quantities or values of goods from the US, adding that the estimates are based on India's growing commercial needs.

"We don't have to. We intend to procure certain equipment. I've talked about aircraft, aircraft engines and aircraft parts. Civil aviation requirements. Trade doe...