MUMBAI, Maharashtra — Union Commerce and Industry Minister Piyush Goyal said Thursday that discussions on a proposed bilateral trade agreement between India and the United States are progressing steadily, but he cautioned against setting any deadline for finalizing a deal.
Speaking in Mumbai during U.S. Deputy Trade Representative Rick Switzer’s two-day visit to Delhi, Goyal said the two sides held “very good substantive discussions,” but emphasized the need for patience and balance.
“A deal is only done when both sides stand to benefit,” Goyal said. “We should never negotiate with deadlines because you tend to make mistakes then.”
Goyal noted that India and the U.S. have already held five rounds of negotiations, adding that Switzer’s current visit is not a formal negotiating round. “The current visit is being undertaken by a new deputy United States Trade Representative who joined about three months ago. It’s his first visit to India. We’re getting to know each other,” he said.
On Wednesday, Commerce Secretary Rajesh Agrawal met with Deputy Trade Representative Switzer to review the ongoing talks. In a post on X, the Commerce Ministry said the two sides exchanged views on the evolving trade relationship and the negotiations for a “mutually beneficial” Bilateral Trade Agreement.
Agrawal said last month that India and the U.S. were “nearing closure” on the first tranche of the agreement, pointing out that regular virtual rounds have kept the negotiation process moving. While he reiterated that no formal timeline can be set, he said the initial phase of talks is progressing swiftly.
Positive signals from Washington have added momentum. In November, U.S. President Donald Trump said his discussions with Prime Minister Narendra Modi were “going great” and indicated he might visit Delhi next year. He also expressed an intention to “lower tariffs” on India “at some point,” raising expectations of a potential breakthrough.
However, Indian officials have repeatedly stressed that the country will not compromise the interests of farmers, dairy producers, or workers in any international trade deal. India has increased purchases of U.S. oil and gas in recent years to help narrow its trade surplus with the United States, an issue that has figured prominently in earlier discussions. (Source: IANS)
