India-US trade talks ‘very productive’, deal on track despite tariff tensions: Piyush Goyal

Goyal noted that bilateral ties remain strong, describing the India-US relationship as a “comprehensive strategic partnership.”

Commerce and Industry Minister Piyush Goyal, on Thursday, expressed optimism over ongoing trade negotiations with the United States, calling recent discussions “very productive” and “on the right track.”

“The talks that happened two days back were productive and are working on the right track. India and the US are natural partners… there is no friction,” Goyal said, adding that Washington remains a “trusted partner” for New Delhi, reported the Times of India.

The CIM's remarks come after a nearly seven-hour meeting in New Delhi earlier this week between India’s chief negotiator, Rajesh Agarwal, and Brendan Lynch, Assistant US Trade Representative. Both sides described the discussions as constructive, with further direction anticipated after Lynch’s return to Washington.

India and the US had earlier committed to finalising the first phase of a bilateral trade agreement by Fall, following an understanding between Prime Minister Narendra Modi and US President Donald Trump.

The talks have, however, been clouded by Washington’s demand for greater market access in India’s dairy and agriculture sectors, which New Delhi has resisted. The US, following that, announced 25 percent “reciprocal tariffs” on Indian imports and an additional 25 percent levy tied to Russian oil purchases, early this August.

Nevertheless, despite the recent tensions, Goyal noted that bilateral ties remain strong, describing the India-US relationship as a “comprehensive strategic partnership.” He also stated that the personal rapport between PM Modi and Trump has been acting as a key factor in keeping the negotiations moving forward and on track.