Union Commerce Minister Piyush Goyal expressed optimism on Wednesday regarding the ongoing trade negotiations with the United States, noting that the talks are progressing well.
"All agreements have many diversified angles. Many dots have been connected," ANI quoted Goyal, who was speaking on the sidelines of the Pravasi Rajasthani Divas.
Goyal said a US trade delegation has been in India since Tuesday, and discussions have been progressing positively.
The minister stated that he will return to Delhi tonight to fulfil his parliamentary duties and attempt to set up a meeting with the US trade negotiation team in the evening.
Commerce Secretary meets US Deputy Trade Representative
Commerce Secretary Rajesh Agrawal met US Deputy Trade Representative Rick Switzer. They discussed India-US trade and economic relations, including ongoing negotiations for a mutually beneficial Bilateral Trade Agreement, the Department of Commerce said in a post on X.
Several rounds of discussions have already been conducted between both sides.
Commerce Secretary Agarwal expressed optimism at the FICCI Annual General Meeting on 28 November. “I think our expectations....we are very optimistic and very hopeful that we should find a solution within this calendar year,” ANI quoted him as saying.
Meanwhile, India's Foreign Secretary Vikram Misri and US Under Secretary of State Allison Hooker met on Tuesday, 9 December, with both sides discussing key bilateral issues, including trade and investment, defence cooperation, the TRUST initiative, energy cooperation, including civil nuclear collaboration, technology, critical minerals, and trusted supply chains.
The discussions also focused on regional and global developments of mutual interest, with both sides underscoring their shared commitment to a free and open Indo-Pacific.
India-US trade deal
US-India trade negotiations have advanced significantly, but the initial goal of finishing the first tranche by fall 2025 was postponed because of recent changes in US trade policy, including tariffs imposed by President Donald Trump on Indian goods.
India has signed 14 Free Trade Agreements (FTAs) and six Preferential Trade Agreements (PTAs) with its trading partners so far, and is currently negotiating deals with several countries, including the European Union.
The path towards the Bilateral Trade Agreement (BTA) has been complicated by US tariff policy, as Trump imposed a 25% tariff on Indian goods starting August 1 and another 25% increase days later, flagging India's Russian oil purchases as part of reciprocal tariffs on trading partners where the US faces trade deficits.
