India-U.S. trade pact to be finalised once U.S. offers preferential rate: Goyal
Commerce Minister Piyush Goyal said that India's nine FTAs, spanning economies representing about $60 trillion of GDP, would provide preferential access to nearly two-thirds of global trade
Commerce and Industry Minister Piyush Goyal stated that the details of India's Bilateral Trade Agreement (BTA) with the United States will be announced once the U.S. provides preferential terms compared to its competitors. Goyal highlighted that India's nine free trade agreements (FTAs), which cover economies representing approximately $60 trillion of GDP, would grant preferential access to nearly two-thirds of global trade.
He also mentioned that additional FTAs with countries such as Canada, Mexico, Chile, Mercosur, SACU, GCC, Israel, the UK, Mauritius, Oman, UAE, Australia, New Zealand, and the EU would provide India access to 75% of global trade at a lower rate than its competitors. Goyal emphasized the importance of scaling up, improving quality, maintaining customer trust, and timely delivery of orders as India aspires to achieve a $2 trillion export target by 2030.
The minister will visit the U.S. in late September to participate in the G-20 Trade Ministerial and hold bilateral talks with U.S. Trade Representative Jamieson Greer, with discussions focusing on the BTA.
Written by urgent.news from The Hindu's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
