Piyush Goyal Rejects Reports on India Holding off US Trade Deal
The Minister of Commerce and Industry, Piyush Goyal, refuted claims that India intends to postpone a trade agreement with the US for an extended period of time.
Speaking at the NXT Summit 2026 in New Delhi, the Union minister said, "There is some absolutely baseless report circulating from today morning... which you should trash. There is absolutely no basis in it at all. We have a very good trade agreement with the United States of America”.
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Piyush Goyal reassured that the deal is a win-win deal for both India and the United States saying, “We have been able to protect all our sensitive sectors like agriculture. India's interests have been safeguarded like no GM products, no rice, no corn, no maize, no soya bean and no dairy or poultry either. It is a very powerful agreement, it is great for both India and America as every trade deal should be”.
"The deal also helps us get the best of technologies from America so that we can become the data centre of the world and can have large investments post the successful AI Summit", he says.
Commerce ministry officials previously stated that India and the US are actively involved in discussions pertaining to a trade agreement that would be advantageous for both parties, emphasizing that there are no delays in the ongoing bilateral negotiations.
Last month, the US and India disclosed that they have secured a preliminary agreement outlining terms for a temporary trade deal that is mutually advantageous.
The structure restated the countries' dedication to the overarching talks of the US-India Bilateral Trade Agreement (BTA), initiated by President Donald J Trump and Prime Minister Narendra Modi on February 13, 2025, which will encompass further commitments to market access and bolstering of more durable supply chains.
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A collaborative declaration highlighted the significance of the Interim Agreement between the United States and India as a pivotal moment in the ongoing partnership between the two nations, underscoring a shared dedication to fair and equitable trade practices that benefit both parties and drive tangible results.
In a recent development, the administration of Donald Trump has launched new investigations into suspected "unfair trade practices" by 16 key trading allies, such as India, China, and Bangladesh. This action is a response to a US Supreme Court decision last month that deemed previous tariffs unlawful, with the goal of restoring tariff pressure.
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The minister convened a meeting with the Consultative Committee on Promotion of Export of Marine Products, joined by Minister of State for Commerce and Industry Jitin Prasada. Goyal posted on X regarding the meeting that focused on enhancing various aspects such as value addition, global competitiveness, infrastructure improvement, and compliance standards to expand new international opportunities for the seafood industry in India.
Goyal participated in a succession of top-level discussions with leaders from various industries around the world and representatives from other countries. The purpose of these meetings was to strengthen India's manufacturing capacity and further integrate it into the global supply chain. The conversations centered on increasing investment collaborations and strengthening India's position as a key hub in the Indo-Pacific region.