India’s Commerce and Industry Minister Piyush Goyal has indicated that the long-awaited trade deal with the United States is ‘moving towards closure,’ offering a significant boost to bilateral economic relations. Speaking in an exclusive interview with Hindustan Times, Goyal detailed the intricate negotiation process undertaken by the Modi government, highlighting the collaborative approach and persistent efforts that have led to this promising juncture.

The negotiations, which have spanned several rounds and involved extensive discussions on a range of issues, including agricultural products, pharmaceuticals, and digital trade, have been marked by a commitment to mutual understanding and compromise. Goyal emphasized that the Indian side has been consistently willing to address US concerns while safeguarding India’s interests and priorities. He specifically mentioned the importance of ensuring a level playing field for Indian exports and promoting fair trade practices.

Key Negotiation Strategies

Goyal elaborated on the government’s strategy, stating that the negotiations were conducted with a ‘spirit of partnership’ and a focus on finding solutions that benefit both countries. He underscored the value of maintaining open communication channels and proactively addressing any emerging challenges. The Indian team, he noted, has been particularly diligent in providing detailed data and evidence to support its arguments, demonstrating a commitment to transparency and accountability.

The minister acknowledged that the negotiations were not without their complexities, citing differences in perspectives on certain issues. However, he expressed confidence that these differences could be overcome through constructive dialogue and a willingness to find common ground. He highlighted the role of the US Trade Representative’s office in facilitating the negotiations and ensuring a smooth process.

The potential benefits of the trade deal are substantial, with projections indicating increased exports for India and greater access to the US market for Indian businesses. The agreement is expected to bolster India’s economic growth and create new opportunities for investment and job creation. Goyal expressed optimism that the deal would serve as a catalyst for further strengthening the strategic partnership between India and the United States.

Looking ahead, Goyal stated that the government remains committed to pursuing a proactive and results-oriented approach to trade negotiations. He emphasized the importance of diversifying India’s trade relationships and exploring new markets while simultaneously strengthening existing partnerships. The successful conclusion of the US trade deal represents a significant milestone in this ongoing effort.