VOI World/ Desk
Commerce and Industry Minister Piyush Goyal has said that India and the United States are moving closer to a bilateral trade agreement, with “good news” expected once both sides reach a fair and balanced deal. He noted that negotiations naturally involve some back-and-forth, but stressed that the relationship remains strong and important.
In the first phase of the talks, India is seeking a rollback of the US decision to impose 50 per cent reciprocal and penal tariffs on a range of Indian goods. In return, Washington is pushing for greater market access in select sectors, including dairy, agricultural products and genetically modified items.
Goyal said India is focused on protecting the interests of farmers, fishermen, small businesses and the domestic industry while keeping overall sensitivities in mind. He emphasised that India is not opposed to market access in principle, but tariff adjustments and product categories must be handled carefully.
New Delhi has already submitted its offers to Washington outlining areas where it is open to enhanced American access. The US, meanwhile, is pressing for deeper entry into India’s agricultural space, but officials say negotiations will continue until both sides find a workable middle ground.
The two countries are also discussing long-term LPG supply arrangements. Goyal noted that India’s purchase of Russian oil earlier prompted higher tariffs on Indian exports to the US, adding complexity to the talks.
Despite hurdles, both governments remain optimistic. Officials say that once mutually acceptable terms are finalised, the agreement will be announced swiftly, offering clarity and stability to India–US trade relations.
