New Delhi — India’s Commerce and Industry Minister Piyush Goyal expressed confidence Wednesday that relations between India and the United States will continue to strengthen regardless of political changes in either country, citing expanding cooperation in trade, defense, technology and national security.
Speaking at the Bloomberg New Economy Forum in New Delhi, Goyal described the bilateral partnership as an important relationship with global economic and strategic implications.
“In my view, the partnership between the two countries is highly substantive and consequential for the world, given that both are large democracies. It is important to remember that the relationship is not limited to trade,” Goyal said.
He noted that the United States remains India’s largest trading partner and expressed optimism about the prospects for reaching additional bilateral agreements.
“The United States is India’s largest trading partner, and I believe it will continue to be so in the years to come. By and large, I do not see any major obstacles to reaching agreements with the United States,” he said.
Goyal emphasized that cooperation between the two countries extends well beyond commercial relations, encompassing joint military exercises, technology development, critical supply chains and people-to-people exchanges.
“The fact remains that India and the United States continue to enjoy a very close relationship and engage across multiple areas. These include joint defence exercises and cooperation to ensure open supply chains in technology, goods, and services,” he said.
The minister argued that the relationship is supported by shared economic, political and security interests, making it resilient to shifts in domestic political priorities.
“The India-US relationship is highly consequential and, I believe, will only grow stronger irrespective of changes in political thinking in either country,” Goyal said.
He added that the partnership’s underlying economic and strategic interests provide continuity despite potential differences between political administrations.
“It is, therefore, a stable and resilient partnership, and I do not think the rest of the world needs to worry about it,” he said.
Goyal also highlighted India’s broader efforts to expand international trade relationships and secure greater access to overseas markets.
According to the minister, India has entered into preferential trade agreements with 38 developed countries over the past four to four-and-a-half years.
He said the government’s trade strategy focuses on opening India’s domestic market to international partners while securing comparable opportunities for Indian companies abroad.
“Our objective is to open India’s markets to the world while ensuring that other markets are equally accessible to Indian businesses,” Goyal said.
He pointed to a significant expansion in the economic reach of India’s trade agreements over the past decade.
“Until 2014, India had preferential market access covering economies with a combined GDP of approximately $10 trillion. Today, our trade agreements cover economies representing around $70 trillion in GDP,” he said.
Goyal’s remarks underscored India’s intention to deepen economic integration with major global markets while maintaining the United States as a central partner in its trade, technology and security relationships. (Source: IANS)
