India, US In 'Active Dialogue' For Trade Deal, Says Piyush Goyal After Trump Shifts Tone
Piyush Goyal said that negotiations are going on with the European Union as well in the national capital for concluding a trade agreement
Commerce and Industry Minister Piyush Goyal on Wednesday said that India is in "active dialogue" with the United States for a free trade agreement.
This came shortly after Trump shifted his tone on India, describing Prime Minister Narendra Modi as a "friend" with whom he plans to speak soon. Modi reciprocated the gesture on social media platform X, calling the US as a valued ally of India.
Goyal said that apart from the US, trade negotiations are going on with the European Union as well in the national capital. Besides, India is also in talks with New Zealand for a trade agreement, he added.
At an event of industry body Federation of Indian Chambers of Commerce & Industry (FICCI), Goyal said, "We are in active dialogue with USA and New Zealand for a trade agreement."
The minister said that India has already concluded trade pacts with Mauritius, the UAE, and Australia. "We will soon finalise the second tranche of the trade agreement with Australia," said Goyal.
'Oman FTA Will Be Finalised In Weeks'
A trade agreement with Oman is also likely to be reached soon, Goyal said at the FICCI Leads Summit, while adding that India and Qatar are set to finalise terms of reference for a free trade agreement in the first week of October.
“Trade agreement with Oman likely in weeks now. Qatar and India will finalise terms of reference for a trade deal in the first week of October,” he said.
Goyal added that India wants to work with countries where both parties can have "a win-win deal" and not a one-sided agreement.
Trump, Modi Strike Conciliatory Tone
In a post on Truth Social on Tuesday, Trump said he was pleased to announce that India and the US are continuing negotiations to address the trade barriers.
"I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks. I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!" he said. [sic]
Trump also reposted Modi's comments on Truth Social. The latest Modi-Trump exchanges were their second in the last four days.
