Goyal to visit US for trade talks this month, says US ambassador Gor

US Ambassador to India Sergio Gor announced that Commerce and Industry Minister Piyush Goyal will be traveling to the United States at the end of the month to discuss a proposed trade agreement between the world's largest economy and the most populous nation. Gor mentioned that the two governments are working closely together to establish a fair, reciprocal, and mutually beneficial trade relationship.

India and the US have been engaged in negotiations for a Bilateral Trade Agreement (BTA) since February 2025, following the formal announcement by Prime Minister Narendra Modi and President Donald Trump.

Gor also highlighted the growing partnership between the two countries, particularly in areas such as critical minerals and technology. The US and India have signed the Pax Silica declaration, a landmark initiative aimed at fostering innovation and streamlining regulatory frameworks for cross-border investments. This agreement is expected to facilitate collaboration between Indian and American companies.

Minister Goyal further emphasized India's commitment to the US-led Pax Silica initiative, which focuses on securing critical mineral supply chains and preventing any single nation from dominating these resources. He added that India is actively participating in the initiative and has signed a declaration to promote critical mineral processing and development.

Indian exports to the US, primarily auto components, account for nearly a quarter of the country's $24 billion in auto component exports during fiscal year 2026. However, Indian exporters faced significant US tariffs in 2025. Goyal defended India's GDP growth of 7.8% in the April-June quarter, stating that it reflected the efforts of the country's 1.4 billion people.