If US happy with India offer, it should sign trade deal: Goyal

The US should sign the free trade agreement with India on the “dotted lines” if Washington is happy with what has been offered by New Delhi, Commerce and Industry Minister Piyush Goyal said on Thursday.

Goyal welcomed the Trump administration’s views on India’s offer, but refrained from giving a deadline for the signing of the long-awaited free trade agreement between the two nations. The minister was reacting to a comment by US Trade Representative Jamieson Greer in Washington, who said the US has received the “best ever” offer from India.

“His happiness is very much welcome. And, I do believe that if they are very happy, they should be signing on the dotted lines,” Goyal told mediapersons here.

He, however, declined to specify India’s offer to the US. The minister said there had been five rounds of negotiations with the US on the trade deal, and added that US Deputy Trade Representative Rick Switzer’s ongoing visit to India was not centred around negotiations.

Switzer’s visit to India is an effort at getting to know each other well, Goyal said, adding that he had “substantial discussions” with the visiting official.

Italy Dy PM hopeful of EU-India FTA in 6 months

Italy’s Deputy PM Antonio Tajani on Thursday expressed hope that the India-European Union Free Trade Agreement will be signed in the next six months. Speaking on the sidelines of the Italy-India Business Forum here in the presence of Union Commerce Minister Piyush Goyal, Tajani said the deal between the fourth-largest economy and the 27-country bloc was very important as it would help his country's exports. Goyal, however, declined to give a timeline by which he expects the deal to be signed, but opined that all the issues will be resolved to have a fair, balanced and equitable deal which will be a win-win for all.

The two-day talks between the US delegation led by Switzer in New Delhi were concluded on Thursday. They have held talks with the Indian team led by Commerce Secretary Rajesh Agrawal. The two sides have exchanged views on matters related to India-US trade and economic ties, including on the ongoing negotiations for a mutually beneficial bilateral trade agreement (BTA).

When asked about Chief Economic Advisor V Anantha Nageswaran’s assertion that the pact with the US would be signed in March 2026, Goyal said he was not aware of the comment and refrained from putting any timeline.

“A deal is only done when both sides stand to benefit. And I don’t think we should ever negotiate with deadlines or hard stops because you tend to make mistakes then,” Goyal said, limiting himself to saying that negotiations with the US are progressing well.

Speaking at a Senate Appropriations Subcommittee hearing on Tuesday in Washington, Greer said, “They have been very difficult nuts to crack, but they have been quite forward leaning. The type of offers that they have been talking to us about have been the best we have ever received as a country, so I think that is a viable alternative market.”