Union Commerce and Business Minister Piyush Goyal speaks throughout an interview with PTI, in New Delhi, Saturday, Jan. 31, 2026.
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PTI
The negotiations for a proposed bilateral trade settlement between India and the US are progressing, and both international locations are working to close the deal “rapidly”, Commerce and Business Minister Piyush Goyal mentioned on Saturday.
He expressed confidence that “excellent news” on this entrance might be introduced within the close to future.
“Each free trade settlement stands by itself legs. And we’re having superb negotiations. My counterpart within the US and I’ve a really fantastic working relationship and an exquisite private friendship. We’re working in the direction of closing the deal rapidly,” Goyal informed PTI in an interview.
He was replying to a query about when the “father of all offers” between India and the US would develop into a actuality, now that the “mom of all offers” is already within the bag.
EU Pact Reference
The free trade settlement between India and the European Union, which was concluded lately, has been broadly termed as “mom of all offers”.
No Deadline
On whether or not the India-US trade pact may very well be concluded by the top of this yr, he mentioned trade offers are by no means negotiated with a deadline and could be finalised on the proper time and within the pursuits of both international locations.
Forward of his scheduled journey to Washington subsequent week, Exterior Affairs Minister S Jaishankar on Thursday held talks with US Ambassador Sergio Gor, specializing in key dimensions of bilateral ties, together with in areas comparable to trade, crucial minerals and defence.
Washington Go to
The exterior affairs minister is travelling to the USA to attend the inaugural ministerial assembly on crucial mineral provide chains.
He’s anticipated to maintain a bilateral assembly with Secretary of State Marco Rubio amid indications that both sides are making recent makes an attempt to conclude a proposed trade deal.
A delegation from the workplace of the US Trade Consultant, led by Deputy Trade Consultant Ambassador Rick Switzer, was right here within the nationwide capital in December 2025 for trade talks.
First Tranche
India and the US are working to finalise the primary tranche of the pact.
The go to of US officers marks their second journey for the reason that imposition of a 25 per cent tariff and a further 25 per cent penalty on Indian items getting into the American market due to the acquisition of Russian crude oil.
When requested if Russian oil purchases by India are one of many irritants within the bilateral our relationships, Goyal mentioned: “I don’t suppose that’s an irritant. There may have been some misunderstandings, which have largely been resolved”.
Revealed on January 31, 2026
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