India–US Trade Talks Progressing Fast, Says Piyush Goyal Ahead Of 1 August Tariff Deadline

Union Commerce and Industry Minister Piyush Goyal announced on Saturday (26 July) that India’s trade negotiations with the United States are moving at a fast pace, reported The New Indian Express.

Addressing a press conference at Vanijya Bhawan, Goyal confirmed that talks with both the US and European Union are advancing, while negotiations with Oman have reached an advanced stage.

Despite the positive momentum, Goyal did not specify when the India-US trade agreement might conclude.

The comment comes just days before US President Donald Trump’s extended deadline of 1 August, after which a 26 per cent reciprocal tariff may be imposed on India if a deal is not finalised.

According to sources from the Commerce Ministry cited in the TNIE report, a delegation of US negotiators is expected to visit India in the latter half of August to continue discussions on the Bilateral Trade Agreement (BTA).

The looming tariff pressure underscores the urgency of reaching an understanding.

Highlighting India’s evolving trade strategy, Goyal contrasted the current approach with that of the previous UPA regime.

He said the India-UK trade pact allows India to engage with the developed world.

He emphasised that previous FTAs were frequently struck with competing economies such as ASEAN, whereas the Modi government has favored agreements with complementing partners such as Mauritius, Australia, the UAE, and the EFTA bloc (Switzerland, Norway, Liechtenstein, and 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 added.

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