India at advanced stage of discussions on trade pact with US: Goyal

Union Minister of Commerce and Industry Piyush Goyal addresses a press conference at Vanjiya Bhawan, in New Delhi.
| Photo Credit:
ANI

India is at an advanced stage of negotiations for a bilateral trade agreement (BTA) with the US and has finalised free trade agreements (FTAs) with three members of the Five Eyes (FVEY) alliance – Australia, UK and New Zealand, Commerce & Industry Minister Piyush Goyal has said.

“We are already at an advanced stage in our discussions with the US,” Goyal said replying to a question on the status of the India-US trade talks at a briefing on the conclusion of the India-New Zealand FTA on Monday.

US Deputy Trade Representative Rick Switzer was recently in Delhi with his team to take stock of the talks. The Ministry of External Affairs had designated it as a “familiarisation visit” for the newly appointed official.

A successful conclusion of the India-US BTA would result in a roll back of the 50 per cent additional tariffs imposed on most Indian products by the Donald Trump regime. India wants that its tariffs should be comparable to or lower than tariffs on countries such as Vietnam and Bangladesh with levies at 19-20 per cent.

The Minister was upbeat about the FTAs with Australia, UK and New Zealand and said that India would soon launch discussions with Canada. The FVEY countries, which have an intelligence sharing network, include Australia, Canada, New Zealand, the UK, and the US.

Published on December 22, 2025