New Delhi: Union Commerce Minister Piyush Goyal on Wednesday said that discussions between India and the United States on a potential bilateral trade agreement are moving forward constructively, while emphasising that India does not conduct negotiations bound by strict timelines. Speaking at the Rajasthani Pravasi Divas, Goyal noted that a US trade delegation has been in New Delhi since Tuesday and that the ongoing talks have been unfolding positively.
He explained that major trade agreements involve numerous dimensions that require careful alignment, and clarified that India does not approach such discussions with rigid deadlines. Responding to questions on whether he would meet the visiting US negotiating team, Goyal said he would return to the capital later in the day for parliamentary responsibilities and would attempt to schedule a meeting. He also mentioned that he is travelling to Mumbai on Thursday to meet the Italian Deputy Prime Minister.
Addressing the Pravasi Divas gathering earlier, Goyal highlighted Rajasthan’s economic growth and the global footprint of its diaspora, noting that more than one crore people of Rajasthani origin live across the world. He praised their entrepreneurial spirit, remarking that they have continually expanded their presence and influence abroad.
The visit of the new US Deputy Ambassador for Trade, Rick Switzer, has added momentum to the ongoing India-US engagement. Switzer is holding discussions with senior officials as both countries work to address key issues and move closer to a trade arrangement. Several rounds of talks have already taken place in recent months.
India has concluded 14 Free Trade Agreements and six Preferential Trade Agreements with various nations and is currently negotiating new FTAs, including one with the European Union. However, progress toward a bilateral trade agreement with the US has been shaped by tariff-related challenges. Previous American duties on Indian exports, imposed as part of reciprocal measures linked to trade deficits and geopolitical considerations, have added complexities to the path ahead.
Despite these hurdles, both sides continue to pursue deeper economic cooperation, with discussions expected to expand in the coming months.
