- India-US trade agreement talks nearing completion, major issues resolved.
- India-UK trade agreement effective July 15; EU pact nears conclusion.
- India’s exports to US remain strong; Japan partnership focuses on technology.
Negotiations on the proposed India-US Bilateral Trade Agreement (BTA) have reached their final phase, with most of the major issues already resolved, Commerce and Industry Minister Piyush Goyal said on Thursday.
Speaking at the NDTV Indo-Japan Strategic Dialogue, the minister expressed confidence that the agreement is progressing smoothly and said the focus remains on securing terms that provide India with a competitive edge over other exporting nations.
According to Goyal, both sides have made significant progress and he does not expect any major obstacles to delay the conclusion of the agreement, reported IANS.
Most Negotiating Issues Already Settled
Goyal said discussions with the United States have advanced substantially, with concessions and several other components of the agreement largely finalised.
“We don’t see any difficulties with the US,” the minister said, adding that India has consistently pushed for preferential market access compared with competing countries. He noted that this position has been recognised by the US administration during the negotiations.
US Reviewing Tariff Framework
The minister also referred to recent legal developments in the United States following the Supreme Court’s decision to strike down tariffs imposed under the International Emergency Economic Powers Act (IEEPA).
According to Goyal, Washington is now exploring an alternative framework that would continue to preserve India’s competitive position in the US market.
He added that US Trade Representative Jamieson Greer has acknowledged India’s concerns during the ongoing negotiations, signalling continued engagement between the two countries on the issue.
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Exports Continue to Hold Firm
Despite higher tariffs in certain sectors, India’s exports to the United States have remained resilient, Goyal said.
He projected that India’s merchandise exports during the April-June quarter are likely to record around 15 per cent year-on-year growth, indicating sustained momentum in bilateral trade even as negotiations continue.
India-UK FTA to Come Into Force This Month
Apart from the proposed agreement with the United States, Goyal also shared updates on India’s other trade negotiations.
He said the India-UK Free Trade Agreement is scheduled to come into force on July 15, a development expected to create fresh opportunities for Indian exporters across multiple sectors.
The minister added that the legal examination of the India-European Union Free Trade Agreement is expected to conclude within the next 10 to 12 days, after which it will move through the approval process.
Expressing optimism over the pact, Goyal said he expects the agreement to be operational before the end of the year, noting that all 27 European Union member states have supported the negotiations and none has opposed the proposed deal.
Japan Seen as a Long-Term Strategic Partner
Goyal also highlighted the evolving economic partnership between India and Japan.
While Japanese investment has traditionally been the foundation of bilateral ties, he said the next phase of cooperation should focus on expanding trade, strengthening technology partnerships and increasing the mobility of skilled professionals.
According to the minister, Japan will continue to play an important role in supporting India’s long-term economic growth ambitions.
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