NEW DELHI: Commerce and industry minister Piyush Goyal on Tuesday expressed hope that India will conclude the proposed bilateral trade agreement with the US by Fall or Nov this year.
He said that "a little bit" of geopolitical issues overtook the trade matters in the negotiations for the pact between the two countries. "I do hope that things will get back on track soon and we will conclude a bilateral trade agreement by Fall, Nov or so, as was discussed by our two leaders in Feb," Goyal said at the Annual Global Investor Conference 2025 in Mumbai.
He said there was excitement across the world to expand trading and business relations with India. He pointed to the UK, UAE, Australia, EFTA and Mauritius trade agreements to argue that India has been on a signing spree of sorts.
"Lots happen, lots more to go... With the US, we are in dialogue with them on a BTA," he told a CII gathering earlier in the day. Talks are currently at a standstill after the US postponed a trip of negotiators scheduled for Aug-end.
Asked about the recent discussions with China and prospects of relaxation in FDI rules, Goyal said: "This was an SCO (Shanghai Cooperation Organisation) summit (attended by PM Narendra Modi), where all the SCO members participated. We had a problem in Galwan, due to which we had a blip in relationship. As the border gets resolved, I think the situation getting back to normal is a very natural consequence."
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