VOIWORLD/New Delhi
India’s economic partnership with the United States remains strong and continues to expand across multiple sectors, Union Commerce and Industry Minister Piyush Goyal said at an event organised by the Indo-American business community. He underlined that the bilateral relationship is rooted in shared democratic values and mutual trust.
Goyal noted that the US considers India a reliable partner, and both sides are committed to strengthening trade and commercial ties even as individual components of the partnership advance at different speeds. He stressed that India will prioritise the interests of domestic stakeholders — including farmers, fishermen, small enterprises and local industries — while negotiating any trade agreement. Commenting on the proposed India–US trade deal, Goyal said negotiations were progressing steadily. He reiterated that India would only enter into an agreement that is fair, balanced and aligned with national interests.
“Negotiations are a process. India has to secure the interests of our stakeholders. Once we find the right equilibrium, you can be assured of the outcomes,” he said. The minister highlighted the significant shift in India’s economic fundamentals over the past decade. Once listed among the “Fragile Five”, India is now among the world’s top five economies and is expected to become the third-largest by 2027. Goyal attributed this to a strengthened banking sector, controlled inflation, fiscal discipline, rising consumption patterns and sustained infrastructure expansion backed by GST reforms.
He added that India presents one of the world’s biggest opportunities for global investors and expressed the country’s readiness to collaborate with US companies in advanced sectors such as technology, artificial intelligence, quantum computing and high-end design systems. India’s goal, he said, is to benchmark itself to global standards and move steadily toward developed-nation status. Goyal said India’s performance during the Covid-19 pandemic demonstrated its resilience and ability to act collectively. The country continues to outperform global growth expectations, he added, and is poised to record higher exports of goods and services by the end of the current financial year.
According to commerce ministry data, India’s merchandise exports to the US saw a recovery in October after four consecutive months of decline. Exports rose to $6.3 billion, up 14.5% from September — the first month-on-month jump since May — despite the 50% tariff imposed by Washington on most Indian goods.
