India Engaged in Careful Talks with US on Trade Deal, Says Minister Piyush Goyal:

Commerce and Industry Minister Piyush Goyal confirmed that India continues to discuss a bilateral trade agreement (BTA) with the United States. Speaking to reporters on Friday, Goyal stressed that the government will not rush into any decisions and will protect the country's and public's interests.

He emphasized that India never negotiates under pressure. "We have always said that we don’t negotiate at gunpoint. Time limits help speed up discussions, but we won’t act in haste if national or public interests are at risk," Goyal said.

India and the US aim to complete the first phase of their trade agreement by September–October this year. The goal is to increase bilateral trade from the current USD 191 billion to USD 500 billion by 2030.

India-EU Trade Pact Talks Moving Forward

Goyal also commented on trade talks with the European Union (EU). He said progress depends on both sides understanding each other’s needs. He noted that Indian exporters face non-tariff barriers in the EU that need addressing.

Speaking at the Italy-India Business Forum, Goyal said that finalizing the India-EU free trade agreement (FTA) would help deepen economic cooperation between both sides. He urged that concrete actions should be taken to speed up the process.

India-Italy Business Growth and Trade Corridor Potential

Highlighting the India-Middle East-Europe Corridor (IMEC), Goyal said it offers a strategic opportunity for India and Italy to strengthen trade ties.

He added that smoother investment flows and trade practices between India and Italy are essential. “We must remove trade barriers and encourage investments. There's significant room to grow beyond the current USD 15 billion trade volume,” Goyal said.