India-US trade deal: Commerce Minister
Piyush Goyal on Thursday exhibited confidence that India and the US will be able finalise the first tranche of a trade deal by November this year.
During a press briefing in Patna, Piyush Goyal said, "In February 2025, Prime Minister
Narendra Modi and President Trump together instructed us that the ministers of both sides should make a good agreement by November 2025.”
“The first part of that agreement, the first tranche, should be finalised by November 2025, and since March, discussions have been going on on this subject very seriously in a very good environment, progress is being made, and with the progress, both sides are satisfied,” Goyal was quoted as saying by ANI.
Goyal’s comments assume significance as Prime Minister Narendra Modi and US President
Donald Trump have signalled a thaw in ties weeks after America imposed 50% tariffs on India.
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India-US trade ties: Trump & Modi signal thaw
Yesterday, Trump posted on Truth Social, “I am pleased to announce that India and the United States of America are continuing negotiations to address the Trade Barriers between our two nations. I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks. I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!"
In response, Prime Minister Narendra Modi supported the US President's comments, indicating that bilateral trade discussions would enhance the partnership's full potential, following Trump's call to resolve "trade barriers" between both countries.
On his X handle, PM Modi said, "India and the US are close friends and natural partners. I am confident that our trade negotiations will pave the way for unlocking the limitless potential of the India-US partnership. Our teams are working to conclude these discussions at the earliest. I am also looking forward to speaking with President Trump. We will work together to secure a brighter, more prosperous future for both our people."
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India-US trade deal: Should India be enthralled by Donald Trump’s outreach to PM Modi?The TOI Business Desk is a vigilant and dedicated team of journal...
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