‘India, US to continue talks for mutually beneficial trade deal’
India and the US aim for a swift, mutually beneficial trade deal, following constructive talks between officials and business leaders during Goyal's visit.
India and the US will continue negotiations for an early conclusion of a “mutually beneficial” bilateral trade deal, the government said on Friday as commerce minister Piyush Goyal returned from a three-day visit to America that included meetings with senior US officials and major corporate leaders.
The ministry’s statement followed “constructive” discussions between an Indian delegation and American officials from September 22-24, with chief negotiator and special secretary of commerce, Rajesh Agrawal, returning on Thursday while Goyal concluded his meetings on Friday.
“Both sides exchanged views on possible contours of the deal and it was decided to continue the engagements with a view to achieve early conclusion of a mutually beneficial Trade Agreement,” the commerce and industries ministry said in a statement.
During his US visit, Goyal held meetings with US trade representative Jamieson Greer and Sergio Gor, the ambassador-designate to India, as both sides work to resolve the 50% tariff slapped by Washington on goods from India.
The delegation’s discussions encompassed “various aspects of the deal” while also engaging with American industry representatives to promote trade and investment between the two countries.
“Apart from meetings with the U.S. Government representatives on bilateral trade matters, the delegation held discussions with key U.S. based businesses and investors on promoting trade and investment between India and the United States,” the statement said.
Along with Goyal, external affairs minister S Jaishankar too has held key meetings in New York and Washington.
Goyal met chief executives from major American corporations, including Blackstone, FedEx, IBM, the Carlyle Group and Warburg Pincus, with the meetings evoking positive responses about India’s investment prospects.
“The business leaders reposed confidence in the India growth story and expressed their desire to intensify their business activities in India,” the ministry said, noting that CEOs showed “keen interest in India as an attractive investment destination.”
The visit represents the highest-level ministerial engagement since trade talks stalled in August, before a turnaround marked following President Donald Trump’s birthday call to Prime Minister Narendra Modi earlier this month.
Despite the positive tone, significant challenges remain, including fundamental disagreements over market access, agricultural products, and India’s energy security policies that have repeatedly stalled previous negotiations.
