India Eyes Balanced Trade Deal with US Amidst Tariff Challenges

Union Commerce and Industry Minister Piyush Goyal emphasized India's push for a fair trade agreement with the US, prioritizing national interest. Despite facing new tariffs, the comprehensive Bilateral Trade Agreement aims to boost trade volumes. Talks, though dealing with sensitive issues, are progressing well towards a balanced solution.

Union Commerce and Industry Minister Piyush Goyal stated that India is actively working towards a fair and balanced trade agreement with the United States, with national interest as the top priority. Speaking at the Udyog Samagam-2025 event in New Delhi, Goyal assured preparations for all contingencies in the negotiations.

Government sources confirmed to ANI that ongoing discussions are progressing well, aiming for a comprehensive and WTO-compliant Bilateral Trade Agreement (BTA) with the US. The talks account for sensitive sectors and issues, with officials indicating another negotiation may be unnecessary.

Despite facing a 50 percent tariff on Indian goods due to alleged issues with Russian oil imports, negotiations aim to surpass the current USD 191 billion trade volume, targeting USD 500 billion by 2030. The BTA, discussed since February, remains a critical pathway to achieving this ambitious goal.

(With inputs from agencies.)