New Delhi: Commerce and Industry Minister Piyush Goyal has indicated that India will resume trade negotiations with the United States once there is greater clarity on tariff related developments in Washington. He stated that discussions would move forward as soon as the situation on the tariff front becomes clearer.
India and the United States had earlier decided to reschedule a planned meeting between their chief negotiators that was set to take place in Washington to finalise the text of an interim trade agreement. The Indian delegation was originally scheduled to begin a three day round of talks on February 23, but the meeting has now been deferred.
Addressing questions on foreign investment policy, Goyal also spoke about the government’s approach to Press Note 3, which mandates prior approval for investments from countries sharing land borders with India, including China. The measure was introduced during the pandemic to prevent opportunistic takeovers of Indian firms at a time when valuations were under pressure.
The minister said the government is engaging with domestic industry stakeholders to better understand their concerns and assess whether adjustments are needed in light of changing economic conditions. He emphasised that while safeguards remain important, the administration remains open to evolving its policies in response to new realities.
Goyal noted that investments from China are not prohibited but are subject to an approval process. He suggested that reforms could involve a calibrated and step by step approach, aimed at speeding up clearances while maintaining oversight. According to him, the broader objective is to attract advanced technology and enhance value chain integration without compromising national interests.
The remarks signal a pragmatic stance as India balances trade negotiations with the United States and investment considerations involving neighbouring countries.
