Union Commerce Minister Piyush Goyal has rejected a Reuters report claiming that India had turned down a quick trade agreement with the United States, describing the report as “completely false, baseless and misleading.” Goyal said both countries remain committed to reaching a balanced and mutually beneficial bilateral trade agreement, with negotiations continuing between the two sides.
In a post on X, Goyal said he had “fantastic meetings” with US Trade Representative Jamieson Greer during his visit to New Delhi in June. He stated that both sides had reaffirmed their commitment to a trade agreement that would be commercially meaningful and provide benefits to businesses, farmers, workers, and consumers in India and the United States.
The minister’s remarks came shortly after Commerce Secretary Rajesh Agrawal said that India and the US have finalised the framework for a proposed bilateral trade agreement. He said the agreement is ready for signing and will be concluded when both sides decide on the appropriate timing.
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The Reuters report had suggested that India was seeking better terms and had rejected an accelerated trade deal. Responding to the report, Goyal said negotiations remain active and focused on achieving an agreement that supports India’s interests while strengthening economic ties between the two countries. He added that both negotiating teams are working towards a comprehensive outcome.
Earlier, Goyal had said that talks between India and the US had reached an advanced stage, with most major issues resolved. US Ambassador to India Sergio Gor had also indicated last month that the proposed agreement was in its final stages, describing discussions as being in the “last one or two per cent” of completion.
The trade discussions are also taking place amid uncertainty over future US tariff measures. The current 10 per cent tariff regime is expected to come up for review after July 24, with Agrawal stating that any decision on future tariff policies would be taken by the US administration. Both sides have maintained that negotiations are progressing positively, including discussions on areas such as energy trade.
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