Jaipur: Union Commerce Minister Piyush Goyal on Wednesday expressed optimism about ongoing trade negotiations with the United States, stating that discussions are “progressing well” towards a bilateral trade agreement.
Speaking on the sidelines of the Rajasthani Pravasi Divas here, Goyal said a US trade delegation has been in India since Tuesday and talks have been advancing positively. “All agreements have many diversified angles. Many dots have been connected,” the minister said.
When asked about meeting the US trade negotiation team, Goyal said he would return to Delhi tonight to attend to parliamentary duties and would try to arrange a meeting in the evening.
“Tomorrow I am going to Mumbai to meet the Italian Deputy Prime Minister,” he added.
Earlier, addressing the Rajasthani Pravasi Divas, Goyal highlighted Rajasthan’s achievements and the global presence of its diaspora. He said over one crore Rajasthani expatriates live worldwide and praised them for proving the saying, “Where the bullock cart cannot reach, the Marwari reaches.”
The minister noted that Rajasthan leads the country in solar energy and that one-fourth of the Rs 34 lakh crore worth of MoUs signed have already been implemented on the ground.
Goyal said the central government is working shoulder-to-shoulder with the Rajasthan government, adding that “no power in the world can stop Rajasthan from becoming the number one state.”
Meanwhile, in yet another push towards the India-US bilateral engagement, the new US Deputy Ambassador for Trade, Rick Switzer, is in India to meet with senior officials in the government of India. Notably, several rounds of discussions have already taken place between both sides already.
On November 28, Commerce Secretary Agarwal expressed confidence at the FICCI Annual General Meeting, stating, “I think our expectations….we are very optimistic and very hopeful that we should find a solution within this calendar year.”
The talks have progressed substantially, though the original target of completing the first tranche by fall 2025 was delayed due to new developments in US trade policy, including tariffs imposed by President Donald Trump on Indian goods.
India has already signed 14 Free Trade Agreements and six Preferential Trade Agreements with trading partners and is currently negotiating FTAs with several countries, including the European Union.
The road to the Bilaterla Trade Agreement (BTA) has been complicated by US tariff measures, with President Trump imposing a 25% tariff on Indian goods starting August 1, followed by another 25% increase days later, citing India’s continued purchase of Russian oil as part of reciprocal tariffs on countries where the US faces trade deficits. (ANI)
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