Talks on the trade deal that were stuck between India and America on various issues have now started moving forward again. New updates are coming continuously regarding this. Now Union Commerce Minister Piyush Goyal has said that talks between the two countries on India-US Trade Deal are progressing rapidly. A team of negotiators from the Indian side is currently present in America and meetings are being held continuously.
Piyush Goyal gave update on trade deal
Commerce Minister Piyush Goyal told during the India-Brazil trade talks held in New Delhi that India and America Active talks are being held regarding trade deal. He said that we have signed Free Trade Agreements (FTA) with many developed countries in the last three years. We are actively pursuing trade negotiations with the US, EU, Chile, Peru, New Zealand and Oman.
Piyush Goyal also said that in the trade talks held with Brazil on Thursday, the focus was on expanding the existing trade agreement. He said that this will make it easier for India to enter the South American market on a large scale in future.
Indian team talking in America
It is noteworthy that an Indian team led by Chief Negotiator and Commerce Secretary Rajesh Aggarwal is currently present in Washington to hold trade talks with their American counterparts. Regular meetings are being held between them and the Indian delegation will remain there till October 17 to finalize the discussions on the trade deal.
During the trade data briefing held on Wednesday, the Commerce Secretary had informed that India’s energy purchases from the US have reached $22-23 billion. At the same time, the country still has a scope of 12-13 billion dollars for further purchases.
50% tariff had put brakes on negotiations
This year, in February 2025, the leaders of India and America had directed their officials to start negotiations on a proposed Bilateral Trade Agreement (BTA). The team hopes that the first phase of this agreement will be completed by the months of October and November.
So far five phases of negotiations have taken place regarding this trade deal. But at the end of August, after the additional tariff imposed on India for the purchase of Russian oil, it had stopped, which has gained momentum again. commerce minister Piyush Goyal He also led an official delegation to New York for trade talks last month.
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