India-US Trade Talks Near Closure, Goyal Signals Positive Path
India-US Trade Talks Near Closure, Goyal Signals Positive Path
Commerce Minister says India-US talks are moving toward closure with no sticky issues, while EU deal is cited as a strong template.
India’s commerce minister Piyush Goyal said the trade deal with the United States is moving towards closure and framed it as a positive, good deal, though he avoided binding timelines. “We are actively engaged. We never do any deal with a deadline in mind,” he told HT. “When both sides are satisfied, the date will be announced.” He also added that there are no sticky issues left to be resolved, signaling a smoother path forward after negotiations began early last year. The talks have resurfaced in the backdrop of a sharp tariff action in August, when Washington imposed a hefty 50% tariff on India’s oil imports, a move that chilled momentum but did not derail engagement. Since then, discussions have continued in the background, with occasional positive signals from the US side.
Goyal also touched on the broader strategy of India’s trade diplomacy, noting that Canada appeared keen to accelerate discussions, while also acknowledging the ongoing work with Chile and the US on new or expanded trade terms. He was careful to distinguish each potential agreement: while the UK deal he described as fantastic and the EU FTA as equally good, he cautioned that “very rarely can you just emulate one deal because the conditions, economy size, and interests of each country matter. Each deal stands on its own legs.” This reflects a pragmatic approach to tailoring negotiations to each partner’s unique context.
In praising the EU deal as the “mother of all deals,” Goyal underscored a notable shift in India’s negotiating posture—built on recent successes and a more confident, outcomes-focused strategy. He highlighted how the EU accord demonstrates what is possible when shared interests align, while also stressing that India remains committed to opening up markets while safeguarding its own economic interests. The minister pointed to a broader momentum: a move away from protectionist hesitations toward confident, constructive negotiations that aim to expand market access without compromising core protections.
The interview also contextualized the evolving mood in New Delhi, where the government’s ability to secure credible, stable outcomes on trade is presented as a marker of macroeconomic discipline and political resolve. As talks with the US gain momentum, observers will be watching for concrete milestones and any emerging concessions, but the emphasis remains clear: India seeks open markets and resilient partnerships, anchored by predictable policy and a clear sense of national interest.
