India–US trade deal will move ahead only when terms are ‘fair, equitable and balanced’, Goyal says

Commerce and Industry Minister Piyush Goyal on Tuesday indicated that progress is being made on the proposed India–US trade agreement but stressed that New Delhi will not finalise the pact unless it fully aligns with the country’s economic priorities.

Speaking at the Indo-US Economic Summit organised by the Indo-American Chamber of Commerce in New Delhi, Goyal said talks are moving forward, but a formal announcement will be made only when the terms are acceptable to both countries.

“You will hear good news once the deal becomes fair, equitable, and balanced,” he said.

Goyal emphasised that India will protect the interests of key domestic sectors—particularly farmers, fishermen and small industries—as negotiations continue.

“Negotiation for a trade agreement is a process, and India as a nation has to see the interests of farmers, fishermen and small industry,” he said.

India and the United States have been working on a bilateral trade pact since March, holding six rounds of discussions so far. While officials on both sides have noted steady progress, sensitive issues such as market access, tariff structures, agricultural safeguards and digital trade rules still need further negotiation.

Goyal’s remarks come amid renewed efforts by both countries to deepen economic cooperation after resolving several long-pending trade disputes at the World Trade Organisation earlier this year.

Businesses in both nations hope the agreement will provide more clarity for exporters, ease tariff-related frictions and boost investment flows.

However, Goyal’s comments make clear that India is in no hurry and will move ahead only when the agreement reflects what he described as a balanced and fair partnership.