India–US trade deal will move ahead only when terms are ‘fair, equitable and balanced’, Goyal says – Firstpost

Commerce and Industry Minister Piyush Goyal on Tuesday indicated that progress is being made on the proposed India-US trade deal, but stressed that New Delhi will not finalize the agreement until it completely aligns with the country’s economic priorities.

Speaking at the Indo-US Economic Summit organized by the Indo-American Chamber of Commerce in New Delhi, Goyal said talks are progressing but a formal announcement will be made only when the terms are acceptable to both countries.

“You will hear good news if the deal is fair, equitable and balanced,” he said.

Goyal stressed that India will protect the interests of key domestic sectors – especially farmers, fishermen and small industries – as the talks continue.

“Negotiating a trade agreement is a process and India as a nation has to look at the interests of farmers, fishermen and small scale industries,” he said.

India and the United States have been working on a bilateral trade agreement since March, with six rounds of discussions held so far. While officials on both sides have seen steady progress, more negotiations are still needed on sensitive issues such as market access, tariff structure, agricultural safeguard measures and digital trade rules.

Goyal’s comments come amid fresh efforts by the two countries to deepen economic cooperation after resolving several long-pending trade disputes at the World Trade Organization earlier this year.

Businesses in both countries hope the agreement will provide greater clarity for exporters, reduce tariff-related friction and boost investment flows.

However, Goyal’s comments make it clear that India is in no hurry and will move forward only if the agreement reflects what he described as a balanced and fair partnership.