India
Goyal says US trade deal gives India preferential access
Livemint·
Commerce Minister Piyush Goyal said a proposed India-United States trade agreement would give India comparative advantage and preferential access to the US market. He said concluded and negotiated deals would open preferential access to $85 trillion of $115 trillion global GDP. India has eight trade negotiations under way, including talks with Chile, Canada, Mexico and Mercosur.
Prism
What It Means For You
- Goyal said India and the United States have concluded most talks and are fine-tuning the deal.
- Preferential US access would sit alongside other FTAs India is closing or negotiating.
- He said bandwidth limits how many new FTA tracks India can open at once.
What's Happening
- Goyal briefed late Monday night India time after saying most US deal discussions were done.
- Chile FTA talks are at an advanced stage, and Mexico seeks an early harvest deal, he said.
- Canada CEPA talks are progressing, and Mercosur talks could accelerate after Brazil’s election.
How The US Track Restarted
- Limited India-US trade talks began in 2018 in Trump’s first term, then paused under Biden.
- Talks revived after Trump returned to office last year, according to the report.
- Goyal said GCC talks may take longer because of the West Asia crisis, even as India is ready to speed up.
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