MUMBAI, India — Union Minister Piyush Goyal said on Thursday that ongoing trade discussions between Indian and U.S. officials are moving in a positive direction, while cautioning that no deadline has been set for finalizing a bilateral trade agreement.
Speaking about U.S. Deputy Trade Representative Rick Switzer’s two-day visit to New Delhi, Goyal said, “We had very good substantive discussions. But I have said on record that a deal is only done when both sides stand to benefit. We should never negotiate with deadlines because you tend to make mistakes then.”
Goyal noted that the negotiations have been progressing over several rounds. “We’ve had substantive discussions over several rounds of negotiations. In the past, I think five rounds have happened. The current visit is not a negotiating round. The current visit is being undertaken by a new deputy United States Trade Representative who has joined about three months ago. It’s his first visit to India. We’re getting to know each other.”
On Wednesday, India’s Commerce Secretary Rajesh Agrawal met with Switzer to review the state of the proposed bilateral trade agreement. “The two sides exchanged views on matters related to India–U.S. trade and economic ties including on the ongoing negotiations for a mutually beneficial Bilateral Trade Agreement,” the Commerce Ministry said in a post on X.
Last month, Agrawal indicated that India and the U.S. are “nearing closure” on the first tranche of the agreement. He said the two sides have been holding regular virtual rounds and that while no formal deadlines exist, the initial stage of talks is advancing quickly.
Positive signals from U.S. President Donald Trump in November have raised expectations for an eventual deal. Trump said his discussions with Prime Minister Narendra Modi were “going great” and that he may visit Delhi next year. He also suggested that tariffs imposed on India could be lowered “at some point,” hinting at potential progress in negotiations.
However, India maintains that its trade agreements must safeguard key domestic sectors. Officials have reiterated that the country will not compromise on the interests of farmers, the dairy industry, or workers.
India has also increased imports of U.S. oil and gas as part of broader efforts to reduce its trade surplus with Washington, an issue that had surfaced in earlier negotiating rounds. (Source: IANS)
