If India’s Offer Satisfies You, Sign The Free Trade Pact: Goyal Tells US

Amid continuing trade tensions, Commerce and Industry Minister Piyush Goyal said on Thursday that Washington should sign the proposed free trade agreement (FTA) with India “on the dotted lines” if the Donald Trump administration is content with New Delhi’s proposals. 

His remarks followed US Trade Representative Jamieson Greer’s comments in Washington describing India’s proposal as the “best ever” the US has received.

Goyal welcomed that characterisation but declined to reveal details of the offer or commit to a timeline for sealing the long-pending FTA. “His happiness is very much welcome. And, I do believe that if they are very happy, they should be signing on the dotted lines,” he said.

Two Days Of Trade Talks End In New Delhi

India and the US wrapped up two days of trade discussions in the capital, where both sides reviewed progress on the bilateral agreement and exchanged views on market access, regulatory issues and investment rules, according to commerce ministry sources cited by PTI.

Goyal said five negotiation rounds have taken place so far, adding that the visit of US Deputy Trade Representative Rick Switzer, his first since assuming office three months ago, was aimed at building familiarity rather than negotiating. He described the exchanges with Switzer as “substantial”.

Officials said the discussions were “purposeful and positive”, reflecting a shared desire to reduce differences that have slowed the FTA process. The US delegation met Goyal, Commerce Secretary Rajesh Agrawal and senior officials from multiple ministries. India and the US are currently working to conclude the first tranche of the agreement, with six rounds of talks held to date. The initial package is expected to cover tariff issues, services access, digital trade and long-standing irritants in the commercial relationship.

Modi And Trump Review Trade And Strategic Ties

As tariff-related strains continue, Prime Minister Narendra Modi and President Donald Trump spoke by phone on Thursday, reviewing the Comprehensive Global Strategic Partnership and discussing areas of convergence in trade and regional cooperation.

Modi later posted on X, “Had a very warm and engaging conversation with President Trump. We reviewed the progress in our bilateral relations and discussed regional and international developments.” He added that both countries “will continue to work together for global peace, stability and prosperity”.

The proposed trade deal carries significant economic weight. Officials estimate it could lift bilateral commerce to $500 billion by 2030, well above the current $191 billion. The US remains India’s largest trading partner, with two-way trade in 2024–25 standing at $131.84 billion, including $86.5 billion in Indian exports.