Piyush Goyal Confident India-US Trade Talks Will Keep Going Despite US Shutdown
Commerce Minister Piyush Goyal assures that India-US trade talks will continue despite the US government shutdown.
Union Minister of Commerce and Industry Piyush Goyal addressed the ongoing US government shutdown’s impact on India-US trade negotiations, emphasizing that discussions will adapt to the evolving situation in the United States. Speaking to the media in Mumbai on Wednesday, Goyal noted that the shutdown, which began on October 1, 2025, due to the US Congress’s failure to pass funding bills amid disputes over spending, border security, and policy riders, has halted non-essential federal services, including agencies like the Social Security Administration and air traffic control. Despite this, Goyal remained optimistic, stating, “It’s only been a week, and India-US trade negotiations will continue, adapting to US processes.”
Delivering a keynote address at the 6th Global Fintech Fest (GFF) in Mumbai, Goyal highlighted India’s growing stature as a trusted global partner. He underscored the country’s reputation for delivering high-quality talent, skills, goods, and services with a commitment to timely execution. “The world looks upon India with trust and confidence,” he said, noting India’s transformation from a participant to a principal architect in the global fintech ecosystem.
Goyal expressed unwavering confidence in India’s trajectory toward becoming a developed and prosperous nation by 2047, when the country will celebrate 100 years of independence. “No power on earth can stop India,” he declared, emphasizing the pivotal role of technology, digital advancements, and expanding trade partnerships in achieving this vision. He projected that India’s economy could reach USD 30–35 trillion by 2047, a goal he described as “very much in the realm of possibility” with collective commitment.
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The minister outlined the government’s dual strategy of fostering infrastructure development and consumption-led growth to bolster the domestic economy. Despite global economic turbulence, Goyal affirmed India’s commitment to expanding international trade, supported by strong macroeconomic fundamentals and deepening ties with developed nations. He also highlighted India’s focus on empowering consumers through high-quality products and services, underpinned by a low-tax regime.
On India’s export performance, Goyal revealed that combined goods and services exports are estimated to grow by 4–5%, with official data to be released next week. He attributed this growth to India’s robust trade relations and its reputation as a reliable global partner.
As India navigates global challenges and strengthens its economic and technological prowess, Goyal’s remarks at the GFF underscore the nation’s ambition to lead on the world stage, with trade and fintech as key pillars of its growth story.
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