Amid United States President Donald Trump’s recent announcement of a 90-day pause on reciprocal tariffs, Union Commerce Minister Piyush Goyal stated that India is handling the issue wisely. Goyal’s statement came , where he assured that India is ahead in this race, and that discussions are making good progress. The Union Minister asserted that India is focused on increasing its trade with the United States by two and a half times.
India Is Ahead In Discussions: Goyal
While speaking to reporters in Mumbai, Goyal highlighted that Prime Minister Narendra Modi and President Trump had agreed in February to sign a trade agreement aimed at making trade with the US easier. He stated that this will also increase trade up to USD 500 billion, roughly two and a half times the previous level. Goyal also addressed the mounting doubts regarding the US reciprocal tariffs and reiterated that India is handling the matter very wisely.
“India is handling this matter very wisely. Prime Minister Narendra Modi and President Donald Trump had decided back in February to strengthen our bilateral relations and sign a trade agreement that will make trade between India and the United States easier. This will also increase trade up to USD 500 billion, which is about two and a half times more than before,” said Goyal.
How Will Trade Agreement Benefit India?
He further stated that the trade agreement with the US, will benefit India by creating more job opportunities. This will in turn strengthen the economy of the country, added Goyal.
Union Minister said, “It will create more job opportunities for the people and further strengthen the country’s economy. I believe that India was already ahead in this race, and our discussions are making good progress.”
During his meeting with industry representatives, Goyal assured that the Government is working on a bilateral trade agreement with the US. He expressed hope that this agreement will power the economy towards the goal of Viksit Bharat 2047.
Notably, Trump on Wednesday declared a 90-day pause on his “reciprocal tariffs” on nearly 60 countries. This relief was not extended to China, which is facing 145 per cent.
