Goyal promises 'best' trade deal with US amid tariff talks
- Negotiations continue following recent changes in the US tariff landscape.
- India is seeking lower US tariffs than those faced by Bangladesh, Vietnam, and Cambodia.
- A US delegation recently visited India to discuss customs-related tracks.
- Goyal emphasized India's reliability, contrasting it with a world full of backstabbers.
Piyush Goyal said India is negotiating one of the "best" trade deals with the United States to secure favorable market access for domestic goods. This agreement aims to provide preferential access for Indian products of interest compared to competing nations with similar development levels.
NewsBytes reported that the country is currently close to finalizing this significant trade agreement.
Goyal told reporters in Visakhapatnam that "in every respect, India will have one of the best deals with the US". He emphasized that the nation has already negotiated favorable outcomes within the pact.
Piyush Goyal is a member of the 18th Lok Sabha representing the Mumbai North constituency and has was a Cabinet Minister since 3 September 2017. Goyal received the 2018 Carnot Prize for his contributions to energy policy.
Ongoing negotiations amidst US tariff changes
Negotiations for the bilateral trade agreement between India and the United States are currently ongoing. Recent changes in the United States tariff landscape have necessitated further discussions between the two nations. The New Indian Express and the Economic Times both reported that these shifts in the tariff regime required additional talks to finalize the trade deal.
India's reliability as a global trade partner
Piyush Goyal said that trust is the scarcest commodity in the world today. He told the audience that India stands apart from a world full of Katappas, asserting that the nation will not stab its partners in the back.
Goyal described India as a trusted global trade partner during these discussions.
Customs-related discussions with US delegation
A two-member US delegation visited India recently to focus on customs-related tracks. The Deputy Chief Negotiator met with Indian officials to discuss these customs-related negotiations.
During these talks, India is seeking lower US tariffs for its goods than those currently faced by competitors including Bangladesh, Vietnam, and Cambodia.
US tariff landscape and political context
The United States imposed an additional 10% import duty on several countries, including India, effective from 24 July 2026.
Piyush Goyal said India does not link its trade relations with internal elections or political outcomes in other countries.
Broader trade agreement status
Goyal said it is too early to assess the impact of the US pact on Indian exports. He noted that the India-EU trade agreement has not yet become operational and the US agreement will also take time to enter into force.
Regarding operational issues in the India-UK trade agreement, especially concerning whiskey, Goyal said such matters are common when new agreements come into force. He added that these issues are currently being resolved.
Goyal's 'Bahubali' analogy at CII summit
He mentioned the scene where the character Katappa kills Bahubali to illustrate India’s position in the world.
Goyal noted that part one of the Bahubali franchise was released in 2015 and part two, which resolved the cliffhanger, came out in 2017. On 8 November 2026, Goyal also praised LK Advani’s commitment to the nation and the BJP, describing him as a source of strength for the party.
Frequently Asked Questions
- "World Full Of Katappas": Piyush Goyal On Why India Stands Out On Trust (ndtv.com)
- India will have one of the 'best' trade deals with US: Piyush Goyal (newindianexpress.com)
- India will have one of the 'best' trade deals with the US: Comerce Minister Piyush Goyal (economictimes.indiatimes.com)
- Piyush Goyal (Wikipedia — background) (en.wikipedia.org)
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