Union Minister of Commerce and Industry Piyush Goyal stated that negotiations on a bilateral trade agreement with the United States are progressing in a “very cordial atmosphere.” Briefing the media in Delhi, Goyal emphasised that such talks are not driven by deadlines but by national interest. He also addressed concerns over US tariffs, while expressing confidence that India will close the financial year 2025–26 with positive export growth despite external challenges.
Piyush Goyal on India-US Trade Talks
Stressing the importance of protecting key domestic sectors such as agriculture, fisheries, and MSMEs, Goyal reiterated that no agreement would be finalised without fully safeguarding India’s priorities. He assured that discussions are ongoing and that a formal announcement will be made once a consensus is reached between the countries.
“I believe the talks are progressing in a very cordial atmosphere and I have said many times that free trade agreements or trade talks are never based on deadlines. There is no agreement unless we fully address the interests of the nation – India’s farmers, India’s fishermen, India’s MSME sector. The talks are progressing very well. The talks are ongoing and we will definitely inform you when we reach a decision,” Goyal said.
Goyal on US Tariffs
The Union Minister also addressed concerns over global trade uncertainties and US tariffs. He expressed optimism about India’s export performance, noting a 6-7% growth in the first six months of the financial year. Goyal highlighted resilience in merchandise exports and strong global demand for Indian goods and services, stating that India remains firmly on a growth trajectory.
“The first six months’ exports, despite all these uncertainties, have grown by about six per cent or seven per cent overall. And even in merchandise, we have seen a growth story of India in the first six months. There is resilience, there is confidence. There is demand for our goods and services across the world, and India will continue on this growth trajectory, and we are confident we will end the financial year 25-26 with a positive growth in India’s exports,” Goyal added.
