Piyush Goyal assured the businesspersons that the government is “keeping India’s interests at the forefront” and expressed hope that the bilateral trade agreement will “power” the economy towards Viksit Bharat 2047.
Mumbai: Union Minister Piyush Goyal has reaffirmed the Indian government’s commitment to prioritizing the nation’s interests in the ongoing discussions surrounding a bilateral trade agreement with the United States. Amid escalating tensions due to tariffs imposed by the Trump administration, Goyal expressed optimism that this trade pact will significantly propel India’s economy toward the ambitious goal of Viksit Bharat 2047.
Goyal emphasized that the negotiations are a continuation of the commitments made by Prime Minister Modi and President Trump earlier this year. “We are working on a comprehensive bilateral trade agreement that covers a wide array of subjects and products,” he stated, assuring business leaders that the government is steadfast in its mission to safeguard India’s best interests in this venture.
In light of the current tariff landscape, Union Minister Hardeep Puri expressed his confidence that India will emerge stronger from the challenges posed by the US tariffs once the trade agreement is finalized. He conveyed a hopeful outlook, asserting, “Every challenge presents an opportunity, and India will take full advantage of it.”
President Trump’s administration has reiterated its stance on tariff reciprocity, resulting in increased trade tensions. Despite facing reciprocal tariffs, India has opted not to retaliate, focusing instead on constructive negotiations to finalize the trade pact.
Adding to the dialogue, US Secretary of State Marco Rubio and India’s External Affairs Minister S. Jaishankar recently discussed the implications of the US tariffs on India. Their conversations aim to pave the way for a fairer and more balanced trade relationship between the two nations.
During Prime Minister Modi’s recent visit to the US, both leaders set forth ambitious goals under ‘Mission 500’, aspiring to double bilateral trade to USD 500 billion by 2030. This strategic initiative reflects their commitment to enhancing economic collaboration and ensuring mutual benefits.
Moreover, Minister Hardeep Puri noted that India has diversified its crude oil sourcing from approximately 40 countries to meet its energy needs effectively, highlighting the nation’s proactive approach in navigating the global energy landscape.
