Goyal: India-US deal to be finalized taking new circumstances into account — The Hindu

In New Delhi, India’s Minister of Commerce and Industry Piyush Goyal said that the trade agreement with the United States would be finalized taking into account circumstances that have changed since the February announcement of the framework for an interim arrangement.

Negotiations with the United States

India seeks to secure lower tariffs for its goods on the US market than those applied to products from its competitors. Goyal did not specify which changed circumstances he was referring to. At the same time, changes in US tariff policy have led to further negotiations on the first stage of the bilateral trade agreement.

In early October, Goyal met with US Trade Representative Jamieson Greer on the sidelines of the G20 trade ministers’ meeting in Milwaukee. The sides discussed issues related to the trade agreement, The Hindu reports.

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Other trade negotiations

According to the minister, India is also negotiating trade agreements with Israel, Chile, the Gulf Cooperation Council and the Eurasian Economic Union. Talks with Canada, he said, are progressing faster, while consultations with the South Africa-led SACU group are expected to begin soon.

Goyal also said that India plans to begin negotiations with Mexico next week. The trade ministers of the United Kingdom and Canada are expected to visit India next week. In July, India and the United Kingdom brought a trade agreement into force, and the British minister will arrive for a meeting of the two countries’ Joint Economic and Trade Committee.