India has said the proposed interim trade agreement with the United States will be finalised in light of changing circumstances. Addressing members of industry chamber PHDCCI in New Delhi today, Commerce and Industry Minister Piyush Goyal said the framework announced in February is being reassessed amid changes in the US tariff landscape. He added that India is seeking more favourable tariff terms to ensure its goods remain competitive in the American market.
Goyal said India is simultaneously pursuing trade agreements with several partners, including Israel, Chile, the Gulf Cooperation Council and the Eurasian Economic Union. Negotiations with Canada are progressing at a faster pace, while talks with the Southern African Customs Union are expected to begin shortly. Trade discussions with Mexico are also scheduled to commence next week.
The minister further said the trade ministers of the UK and Canada will visit India next week. The UK minister’s visit will include the India-UK Joint Economic and Trade Committee meeting, following the implementation of the bilateral trade agreement in July. Goyal said several countries are keen to pursue trade agreements with India.
