Commerce and Industry Minister Piyush Goyal announced on Monday that India and the United States have largely resolved differences in their proposed bilateral trade agreement and are now in the final stages of drafting.
“We have concluded most of the discussions on the India-US trade deal. Now we are fine-tuning the agreement,” Goyal stated at the India-Netherlands Business Forum in The Hague.
This positive update follows recent remarks from then-President Donald Trump, who indicated the US and India were “pretty close” to finalizing a trade deal. US Ambassador to India, Sergio Gor, also echoed this sentiment, confirming significant progress in negotiations. Goyal has consistently emphasized that any final agreement must offer Indian exporters a competitive edge.
During his visit to the Netherlands, Goyal also engaged with Members of Parliament to explore new avenues for India-Netherlands cooperation. Discussions included the potential of an India-EU Free Trade Agreement to boost market access and diversify supply chains. He highlighted collaboration in advanced manufacturing, renewable energy, and innovation as crucial for a robust economic partnership.
Minister Goyal’s official visit from October 22-27 aimed to strengthen India’s economic ties with Germany and the Netherlands, focusing on trade expansion and technological collaboration. In Berlin, he participated in the Global Dialogue, showcasing India’s economic stability and manufacturing prowess.