India-US trade negotiations on the right track: Piyush Goyal

Abu Dhabi [UAE], September 18 (ANI): Union Minister for Commerce and Industry Piyush Goyal on Thursday said that India trade negotiations with the US are showing promising signs, highlighting the strong and comprehensive strategic partnership between the two nations.

Speaking in Abu Dhabi, at the 13th meeting of the UAE-India High-Level Joint Task Force on Investments, Goyal emphasised that recent discussions with the US Assistant USTR were productive and moving in the right direction.

The US discussions with the Assistant USTR happened two days back. They were productive and are working on the right track. The US relationship is a very strong, comprehensive strategic partnership between two friendly countries, he said.

India and the US initiated talks for a just, balanced, and mutually beneficial Bilateral Trade Agreement (BTA) in March this year, aiming to complete the first stage of the Agreement by October-November 2025.

Assistant US Trade Representative Brendan Lynch had a positive meeting with his counterpart, Ministry of Commerce and Industry Special Secretary Rajesh Agrawal, on Tuesday to discuss next steps in bilateral trade negotiations, with the two sides deciding to intensify efforts to achieve early conclusion of a mutually beneficial Trade Agreement.

Ministry of Commerce and Industry said in a statement that a team of officials from the office of the United States Trade Representative, led by Chief Negotiator for India-US Bilateral Trade Agreement negotiations, Brendan Lynch, visited India on September 16, 2025.

They held discussions with officials from the Department of Commerce, led by the Special Secretary, Department of Commerce on India-US trade ties, including on the India-US Bilateral Trade Agreement, it said.

Acknowledging the enduring importance of bilateral trade between India and the U.S., the discussions were positive and forward-looking, covering various aspects of the trade deal. It was decided to intensify efforts to achieve early conclusion of a mutually beneficial Trade Agreement, the statement added.

India and the United States have earlier held five rounds of negotiations for a trade deal. The proposed last round of talks with US in August was postponed.

Over the past few months, India and the US have been negotiating for an interim trade deal. US President Donald Trump announced 25 per cent tariffs on Indian goods in July, even as there were hopes of an interim India-US trade deal that would have otherwise helped avoid elevated tariffs. A few days later, he imposed another 25 per cent tariff, taking the total to 50 per cent, citing India continued imports of Russian oil. The 50 per cent tariffs came into effect on August 27.

India has reservations about the US demand to open up the agricultural and dairy sectors. Agriculture and dairy are critical and sensitive sectors for India as they provide livelihood to a large section of people.

Goyal emphasised that India foreign relationships are independent of one another and built on unique foundations.

As regards the relationship with the UAE, it stands on its own legs. It is underpinned by trust, possibilities, and opportunities. And for India, no two relationships are co-mingled or depend on each other. The UAE relationship is equally a very important and strategic partnership, he said.

Looking ahead, Goyal expressed confidence in the growth of Indian exports to the UAE. Having said that, there are areas in which there is a huge possibility to expand trade in the UAE. There are sectors like textiles, pharmaceuticals, fish, marine products, and leather products, where we see huge potential to grow in the UAE market, he added. (ANI)

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