Trade talks with US making 'fast progress': Commerce minister Goyal
Negotiations are at an advanced stage with Oman as well, while with the European Union and US, they are making fast progress, he said.
Goyal, however, refused to give any timeline for the completion of the trade deal even as US President Donald Trump's extended August 1 deadline for imposition of the reciprocal tariff is less than a week away.
According to commerce ministry sources, a delegation of US negotiators is likely to come to India in the second half of August for talks on the Bilateral Trade Agreement (BTA). India faces a 26% reciprocal tariff if there is no trade deal by August 1.
Goyal said that the India-UK trade agreement serves as a doorway for India to engage with the developed world. He said that unlike past FTAs under the UPA government, which were often signed with direct competitors like ASEAN nations, the Modi government has focused on FTAs with complementary economies like Mauritius, Australia, UAE, and the EFTA bloc (Switzerland, Norway, Liechtenstein, Iceland).
'The business opportunities, the quality and cost competitiveness of Indian goods and services, the demographic dividend of our young and aspirational population, the rule of law, and the strength of our democracy all make India a preferred global partner,' he said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
an hour ago
- India Today
Trump-Putin Alaska talks on Ukraine war: Top developments
The talks between US President Donald Trump and Russian President Vladimir Putin ended Friday after more than two and a half hours, closing a tense, closely-watched summit in Alaska that could shape both the war in Ukraine and Europe's security was the first time the two had met since 2019. They gathered at Joint Base Elmendorf-Richardson in Anchorage with top aides on each side for a three-on-three meeting. The setting was heavy with symbolism — a blue backdrop behind them carried the words 'Pursuing Peace.'advertisementBefore sitting down with Putin, Trump had said he wanted two things: an immediate stop to the fighting and a firm commitment from the Russian leader to meet soon with Ukrainian President Volodymyr Zelenskyy. The goal, he said, was to get both sides talking directly about ending the war that began with Russia's invasion in February 2022. HERE ARE THE TOP DEVELOPMENTS President Donald Trump said there are still key points of disagreement and 'there is no deal until there is a deal,' acknowledging that 'we didn't get there' despite some progress. He said 'many points were agreed to' but 'a few' remain, adding that 'one is the most significant' without specifying what it was. Trump said he plans to speak with Ukrainian President Volodymyr Zelenskyy and European leaders soon, noting that it is 'ultimately up to them.' He closed by saying he will 'probably' meet Putin again soon, to which the Russian leader replied, 'Next time in Moscow.' Russian President Vladimir Putin said he is 'sincerely interested' in ending the war in Ukraine, which he called a 'tragedy,' but insisted that Russia must first address the 'primary causes' of the conflict. He warned Ukraine and Europe not to 'sabotage' any talks and described his meeting with US President Donald Trump as a 'starting point for resolution.' Putin characterized his relationship with Trump as 'business-like' and agreed with Trump's repeated claim that the war would not have begun if he had remained in office after the 2020 election. Originally planned as a one-on-one meeting, the talks became a three-on-three session, with US officials Marco Rubio and Steve Witkoff joining Trump, and Sergey Lavrov and Yuri Ushakov joining Putin. The change suggested a more cautious approach than Trump's 2018 Helsinki meeting, when he was criticized for siding with Putin over US intelligence on election meddling. advertisement Hosting Putin on US soil in Alaska, bought from Russia in 1867 gives the Russian leader symbolic legitimacy after years of isolation. Any peace agreement could risk alienating Ukraine if concessions are made without its consent. Trump has previously warned of 'severe consequences' for Russia but also hinted Zelenskyy might have to accept territorial losses for peace. The discussions are expected to cover a potential ceasefire, Russian demands for Ukraine to cede territory, and possible US-European security guarantees for Ukraine outside NATO membership. Putin wants a comprehensive deal that secures his gains and blocks Kyiv's NATO ambitions. Trump says Ukraine should decide on concessions, while expressing doubt about securing an immediate ceasefire. advertisementThe meeting took place at Joint Base Elmendorf-Richardson, a Cold War-era strategic site still intercepting Russian aircraft. Alaska's proximity to Russia, just 3 miles at its closest point underscored the symbolism. Meanwhile, Ukraine continues to face heavy bombardments, a stretched military, and a grinding war along a 600-mile front, with neither side close to meeting the other's conditions for peace. Ukrainian President Volodymyr Zelenskyy and European leaders were excluded from the Trump-Putin meeting. Zelenskyy responded with a video calling for a 'strong position from the US' and stressing Ukraine's readiness for peace. The decision breaks the Western policy of 'nothing about Ukraine without Ukraine,' raising fears that Trump might agree to a deal unfavorable to Kyiv without its direct participation. - EndsTune InMust Watch
Time of India
an hour ago
- Time of India
Time for states to reclaim federal rights legally: CM
Chennai: The time has come for states to reclaim federal rights constitutionally, said chief minister M K Stalin , accusing the Union govt of snatching the powers of states in key sectors, including education and health. Delivering his Independence Day address after hoisting the tricolour at Fort St George on Friday, Stalin said that at a time when states working closely with people need more funds and autonomy, the Union govt was doing the opposite by snatching away powers. "State govts are forced to depend on the Union govt due to the discrimination in devolution of funds, policies, and court judgments," he said. Such constant struggles of getting basic rights and funds through arguments and legal battles do not bode well for a federal country, Stalin added: "This will also hinder the state's growth and national progress. Only when states grow independently and distinctively will the country truly develop, he said. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai | Gold Rates Today in Chennai | Silver Rates Today in Chennai Stalin also made a slew of welfare announcements, including expansion of his free bus travel initiative (Vidiyal Payanam) to all disabled persons in hilly regions to improve mobility, access to healthcare, education, and jobs. He also announced that the state govt will build a 33,000sqft hostel for ex-servicemen at Madhavaram in Chennai, at a cost of ₹22crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo At least one driving school will be set up in each district, Stalin said. Besides, two driving academies in every zone and a state-level driving academy will be set up. The govt will also impart a skill training programme at a cost of ₹15crore for the benefit of college-going children of construction workers who are registered members of the welfare board, he said. The monthly aid for ex-servicemen from the state who served during World War II would be increased to ₹15,000, he said. The monthly pension for freedom fighters will be increased to ₹22,000, and the monthly pension for their families would be increased to ₹12,000, he said. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Happy Krishna Janmashtami Wishes ,, messages , and quotes !
Time of India
an hour ago
- Time of India
'No deal till there's a deal': Donald Trump after talks with Vladimir Putin; 'next time in Moscow', says Russian president
After a closely watched closed-door meeting in Alaska that lasted over 3 hours, US president Donald Trump and Russian president Vladimir Putin made their first public remarks — demonstrating both optimism and restraint about the future of bilateral relations and the conflict in Ukraine. The joint press conference, however, lasted only a few minutes. No deal was announced, and neither leader took questions. Putin: A Long-Overdue Dialogue President Putin opened the joint news conference—an unusual move, as American presidents typically speak first when hosting foreign leaders. He took the opportunity to reflect on the deteriorating state of US-Russia relations, describing them as 'fallen to the lowest point since the Cold War.' Emphasising the need to shift from confrontation to dialogue, Putin declared, 'Sooner or later, we have to amend the situation.' He called the meeting 'long overdue,' underscoring the shared history of Russia and the U.S., especially poignant in the Alaskan setting. A centerpiece of their private discussions, according to Putin, was the situation in Ukraine. He expressed hope that 'the Ukrainians and Europeans choose to not throw a wrench in' the peace process. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like These Are The Most Beautiful Women In The World Undo Putin also thanked Trump for his 'well-wishing tone,' noting the need for both sides to focus on tangible results. 'Trump clearly cares about the prosperity of his nation. But understands Russia has its own interests,' Putin stated, positioning the dialogue as one of mutual respect and realism. 'No Deal Until There's a Deal': Trump's Message President Trump began his statement on an upbeat note, describing the meeting as 'very productive' and noting a considerable number of agreements reached. However, Trump acknowledged that several major issues remain unresolved. 'A couple big ones where we haven't quite gotten there, but we've made some headway,' he said. Reiterating his well-known negotiation mantra, Trump stated, 'There's no deal until there's a deal.' He announced his intention to call NATO leaders and other key figures to update them on the meeting's progress. President Zelenskyy of Ukraine, he said, would also be briefed. 'It's ultimately up to them. They're going to have to agree with what Marco and Steve and some of the great people from the Trump administration who've come here,' Trump added, hinting at the broader coalition of voices involved in the process. The Road Ahead While the meeting in Anchorage did not yield a definitive agreement, both leaders emphasised progress and the importance of continued dialogue. Trump's decision to consult further with NATO and Ukrainian leadership signals that the path to resolution—especially regarding Ukraine—will require multilateral cooperation and careful negotiation. As President Trump and President Putin depart Anchorage, the world watches for signs that optimism and engagement will translate into lasting progress. The message from both sides was clear: the door to peace is open, but it will take hard work—and consensus—to walk through. 'Next time in Moscow' At the conclusion of the high-stakes Alaska summit between, Putin delivered a pointed parting remark, saying in English, "Next time in Moscow". This statement signals Putin's willingness to continue diplomatic engagements with Trump, potentially inviting the next meeting to be held on Russian soil. The Alaska talks, which lasted several hours, were seen by Putin as a diplomatic victory, allowing him to show resilience against Western isolation efforts following the Ukraine conflict. For Trump, the summit represented a moment to seek progress toward ending the war in Ukraine, with hopes of arranging further negotiations that might include Ukrainian President Volodymyr Zelensky.
