We don’t negotiate with deadlines: Piyush Goyal on progress of India–US trade talks

Commerce Minister Piyush Goyal

Union Commerce Minister Piyush Goyal on Wednesday expressed optimism about India’s ongoing trade negotiations with the United States, saying discussions are “progressing well” toward a bilateral trade agreement. Piyush Goyal also clarified that India does not negotiate deals based on deadlines, underscoring that the focus remains on securing outcomes that serve the country’s long-term economic interests.

Speaking at the Rajasthani Pravasi Divas, Goyal confirmed that a US trade delegation has been in India since Tuesday. “All agreements have many diversified angles. Many dots have been connected,” he said, adding that discussions were “progressing well”.

Piyush Goyal said he would return to Delhi later in the evening due to parliamentary commitments and would “try to arrange a meeting” with the visiting US trade negotiation team.

In a fresh push to strengthen bilateral engagement, the newly appointed US Deputy Ambassador for Trade, Rick Switzer, is in New Delhi for meetings with senior Indian officials. India’s trade ministry said on X that “the two sides exchanged views on matters related to India-US trade and economic ties including on the ongoing negotiations for a mutually beneficial Bilateral Trade Agreement.”

Several rounds of talks have already taken place. On November 28, Commerce Secretary Sunil Barthwal Agarwal expressed confidence at the FICCI AGM, saying, “I think our expectations... we are very optimistic and very hopeful that we should find a solution within this calendar year.”

However, the timeline for the first tranche of the agreement—originally expected by fall 2025—has been pushed back due to developments in US trade policy, including punitive tariffs imposed by President Donald Trump on Indian goods.

Switzer is leading a US team for two days of discussions as India seeks relief from these tariffs, which Washington linked to India’s continued purchases of Russian oil.

India has signed 14 Free Trade Agreements and six Preferential Trade Agreements so far and is negotiating multiple FTAs, including with the European Union.

The path to a Bilateral Trade Agreement (BTA) has been complicated by recent US tariff actions. President Trump imposed a 25% tariff on Indian goods starting August 1, followed by another 25% hike, citing reciprocal measures against countries where the US faces trade deficits.