"Confident" Of India-US Trade Deal, Says Piyush Goyal Amid Tariff Deadline
"I'm always confident," Mr Goyal said in an interview Thursday with Bloomberg TV in London, when asked how he was feeling about the prospects for a pact.
"I've had some wonderful engagement with my friend and colleague from the US," he said, calling US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer "very dear friends."
Mr Goyal insisted there weren't any sticking points in the US-India relationship or in current trade talks, and clarified that immigration rules - including those around H-1B visas for skilled workers - had not come up in this year's talks.
Still, the two countries have been locked in negotiations for an interim trade agreement for months already, having made a commitment to reach a bilateral deal by the fall of this year.
Both sides have signaled an agreement is close. New Delhi has recently toughened its stance in negotiations, while President Donald Trump has threatened to hit countries like India and China with secondary sanctions for buying oil from Russia.
Negotiators remain stuck on a few key issues, including US demands for greater access to India's agricultural and dairy sectors. India has been pushing for exemptions from Trump's sectoral tariffs, mainly for pharmaceuticals and automobile components.
Mr Goyal was in the UK with Prime Minister Narendra Modi on Thursday to sign a free trade agreement with that country that eliminates tariffs on a range of products including cars and alcohol, a major milestone for the Asian nation.
"We have very robust negotiations going on with several countries," including with the US, EU, New Zealand, Peru, and Chile, Mr Goyal said Thursday.
India is one of the largest economies locked in negotiations ahead of a US-imposed Aug. 1 deadline, when Trump's latest threatened tariffs are set to take effect. This week, the White House has announced agreements with the Philippines and Japan, and more details on an agreement previously announced with Indonesia.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Deccan Herald
a few seconds ago
- Deccan Herald
Rupee rises 12 paise to close at 87.53 against US dollar
Forex traders said the US' imposition of a 25 per cent tariff on Indian exports triggered risk-off sentiment and heightened concerns regarding further rupee depreciation.
Deccan Herald
a few seconds ago
- Deccan Herald
Imposition of 25% US duty not to impact India much; agriculture, dairy, GM food no go area in trade pact
Most of the Indian goods are already in the exemption category (such as pharma and electronic goods) of the US. So, they would not attract any duty, according to sources.
Indian Express
a few seconds ago
- Indian Express
India responds to Trump's tariff attack, says ties with US have weathered ‘many challenges'
India on Friday responded to US President Donald Trump's remarks calling the Indian economy 'dead' and his imposition of a 25% tariff, stating that the bilateral partnership remains resilient and forward-looking. 'India and the United States share a comprehensive global strategic partnership anchored in shared interests, democratic values, and robust people-to-people ties,' said Ministry of External Affairs spokesperson Randhir Jaiswal at a weekly press briefing. 'This partnership has weathered several transitions and challenges,' he said, adding, 'We remain focused on the substantive agenda that our two countries have committed to and are confident that the relationship will continue to move forward.' VIDEO | Delhi: Responding to a media query on progress in India-US ties, MEA spokesperson Randhir Jaiswal (@MEAIndia) says, 'There is a comprehensive global strategic partnership between India and US. This partnership is based on our national interest and democratic values. This… — Press Trust of India (@PTI_News) August 1, 2025 The comments came a day after Trump, in a post on Truth Social, announced new trade tariffs and described India's economy as 'dead' and accused it of exploiting trade benefits. Responding to questions on defence ties, Jaiswal emphasised, 'The two countries have a strong defence partnership which has been strengthened over the last several years. There is potential for this partnership to grow further.' On the matter of India's energy procurement strategies amid shifting global dynamics, Jaiswal clarified, 'In securing our energy needs, we are guided by what is on offer in the markets, and by the prevailing global circumstances.' 'Ties with any country, and all the ties that we have with various countries, stand on their own merit and shouldn't be seen through the prism of a third country. As far as India-Russia relations are concerned, we have a steady and time-tested partnership…,' he said when polled about Trump's remark regarding India-Russia relations.
