Trade pact talks with US on track, India a compulsive investment destination: Piyush Goyal

India is actively negotiating trade agreements with the United States and the European Union. Commerce Minister Piyush Goyal says talks are progressing rapidly. American trade officials will visit India soon for further discussions. India is also attracting significant foreign direct investment. The nation is considered a compelling investment destination due to strong returns.

The tariff war presents India with opportunities in specific sectors. India and US are in talks for a trade agreement, aiming for an interim deal. The US is India’s largest trading partner. India had a trade surplus with the US. India aims to become a USD 5 trillion economy by 2027-28.

Foreign Secretary Vikram Misri and US Deputy Secretary of State Christopher Landau met in Washington, reaffirming their commitment to regional stability and the comprehensive India-US strategic partnership. Discussions covered a wide range of bilateral issues, including tech-trade-talent collaboration, fair market access, and enhanced cooperation on migration and counter-narcotics.

In the February budget, the government had said the current model bilateral investment treaty (BIT) will be revamped and made more investor friendly to encourage sustained foreign investment besides ensuring the spirit of “first develop India.”

US and Indian officials are engaged in trade talks, aiming for an interim agreement by June 25, potentially suspending the 26% reciprocal tariff imposed by the US. Both nations are working towards a broader bilateral trade agreement by the fall, with the goal of significantly increasing bilateral trade to $500 billion by 2030.

Foreign Secretary Vikram Misri met with Under Secretary Jeffrey Kessler to enhance India-US collaboration in critical and emerging technologies. Discussions also included the early convening of the India-US Strategic Trade Dialogue to strengthen bilateral cooperation in technology and trade sectors. This visit follows Prime Minister Modi’s US visit in February, where the India-US COMPACT was […]

The finance ministry expects that a potential India-US trade deal will significantly boost exports and transform economic challenges into opportunities. While highlighting proposed US tariffs as a key vulnerability, the ministry emphasizes the importance of a balanced agreement to stimulate private investment amid global uncertainties.

India and the UK have finalized a free trade agreement. This pact lowers tariffs on British premium cars. A limited quota of vehicles will see tariffs drop to 10%. The agreement also allows 1,800 Indian professionals to work in the UK annually. UK firms can bid on Indian government tenders. The FTA is expected to […]

Commerce Minister Piyush Goyal urged exporters to better utilize free trade agreements and addressed non-tariff barriers in a meeting with export bodies. Discussions covered a centralized exporter portal, trade talks with the EU and US, and strategies to boost service and value-added goods exports. The government has allocated ₹18,233 crore for the RoDTEP scheme, benefiting […]

India anticipates its goods and services exports to hit $1 trillion by fiscal year 2026. This growth is supported by new trade agreements and the resumption of shipments via the Red Sea route. Federation of Indian Export Organisations projects increases in merchandise and service exports. Key sectors driving this growth include electronics, agriculture, and petroleum […]