India is hopeful of finalizing a Trade Deal with the United States by November, Commerce Minister Piyush Goyal said on Tuesday. He made the announcement while speaking at an investor conference in Mumbai.
According to Goyal, trade talks with the European Union are also moving forward. At the same time, relations with China are slowly returning to normal as border tensions ease. In his virtual address, the minister stressed India’s commitment to strengthening its global partnerships.
India has already concluded several important agreements. These include deals with Mauritius, Australia, the European Free Trade Association (EFTA), the United Kingdom, and the United Arab Emirates. The focus is now on securing a Trade Deal with Washington, which remains India’s largest trading partner.
Ties between India and the US, however, have been strained in recent years. Disputes over tariffs and India’s purchase of Russian oil have added to the challenges. Recently, Washington imposed a 50% tariff on some Indian exports starting August 27. This move has increased pressure on both sides to find common ground.
Despite the hurdles, Goyal expressed optimism about the outcome. He said a successful Trade Deal would not only ease tariff disputes but also provide new opportunities for Indian businesses. Analysts believe such an agreement could boost cooperation in energy, technology, and manufacturing sectors.
Experts also point out that a Trade Deal with the US would strengthen India’s role in global supply chains. With companies seeking alternatives to China, New Delhi is positioning itself as a reliable partner for international trade.
India’s push for a US Trade Deal reflects a broader strategy of expanding its global reach. By engaging with multiple regions, New Delhi aims to diversify trade relationships and enhance economic growth.
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