India and the United States have concluded most discussions on the proposed bilateral trade agreement and are now fine-tuning the pact, Commerce and Industry Minister Piyush Goyal said on Monday, signaling significant progress in negotiations amid persistent tariff-related uncertainties.
“We have concluded most of the discussions and are fine-tuning the agreement,” Goyal said while addressing the India-Netherlands Business Forum in The Hague, where he is on a two-day official visit accompanied by a business delegation.
Speaking at the forum, Goyal also underscored India’s expanding trade footprint on the global stage, noting that the country has concluded nine free trade agreements over the past four and a half years.
His remarks come just days after US Secretary of State Marco Rubio indicated that only a handful of issues remained unresolved, expressing optimism that the agreement would be finalized shortly. “I would say we’re about as close as you can be without having an executed agreement. I think there’s a small number of items left to wrap up,” Rubio said, adding that the pact could be concluded soon and that leaders on both sides could sign it thereafter.
The two nations first announced the finalization of a framework for the first phase of the bilateral trade agreement (BTA) in February. However, subsequent shifts in the US tariff landscape have necessitated further negotiations on the proposed pact.
For more than a year, India and the US have been engaged in talks to craft a bilateral trade arrangement aimed at broadening market access while resolving long-standing differences over tariffs, agricultural commodities, industrial merchandise, and regulatory barriers. The successful conclusion of the agreement is expected to provide a significant boost to economic ties between the world’s two largest democracies, with businesses on both sides closely watching the outcome.
Original Source: https://www.ndtv.com/india-news/india-us-conclude-most-trade-pact-talks-fine-tuning-agreement-piyush-goyal-12240286#publisher=newsstand
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Publish Date: 2026-10-27 05:31:00
