You'll Hear Good News on India-US Trade Deal Once It's Fair, Equitable and Balanced: Goyal
India and the US are negotiating the proposed bilateral trade agreement since March
New Delhi: Amid speculations of the first tranche of India-US trade deal soon, commerce and industry minister Piyush Goyal on Tuesday informed that there would be only “good news” about the trade deal once the deal is fair, equitable and balanced. “India will protect farmers, fishermen and small industry and will sign the pact only when the deal is fair, equitable and balanced,” he said, while at the same time he urged the industry leaders to adopt a more ambitious and proactive approach to help drive India’s growth.
“You will hear good news on the proposed trade pact between India and the US once the deal is fair, equitable and balanced. India will also protect the interests of farmers and fishermen in the agreement. When we find the right balance, rest assured, we will get outcomes on this,” Goyal said, while speaking at the Indo-US Economic Summit organised by the Indo-American Chamber of Commerce here.
The minister further said that India and the US have been negotiating the proposed bilateral trade agreement since March. “So far six rounds of negotiations have been completed. Negotiation of any trade agreement is a complex process and must take into account the concerns of farmers, fishermen and small industries. There is no reason to be worried about the bilateral relations between the two countries,” he said.
The minister also hinted that the LPG import deal with the US could be a multi-year agreement, saying the friendship between the two nations is enduring and partnership ever-growing. “In fact, we just signed a major LPG agreement for importing over a long period of time every year 2.2 million tonnes per annum of LPG. So it is an ongoing process. We both (India and the US) are equally committed to expanding trade and commerce between the two countries,” he added.
Meanwhile, in another event earlier in the day, Goyal also set the tone for India’s economic roadmap, calling this moment one of the most challenging in recent global history. “The world is entering an era of deep uncertainty marked by geopolitical tensions, supply chain disruptions, and unstable markets. In contrast, India has emerged as a force of stability, credibility, and confidence,” he said at the FICCI’s 98th AGM, adding that the next two years will be critical for India, as reforms, digital transformation, and global partnerships create unprecedented opportunities for growth.
