India working for fair & equitable trade pact with US: Goyal in Berlin

India is fully engaged with the US on the trade issue and is working towards a fair and equitable agreement, Union Commerce and Industry Minister Piyush Goyal said on Thursday.

Speaking in Berlin, where he is visiting to enhance bilateral trade cooperation with Germany, Goyal said India was in talks with the US for a trade deal.

“We are in a dialogue with the US. Our teams are engaged. We recently had the Commerce Secretary visit the US and he met his counterpart. We continue to engage with them and the talks are progressing,” Goyal said.

The minister added that India was hoping to work towards a fair and equitable agreement in the near future.

He refrained from setting timelines to the trade talks, maintaining the government’s official position on the issue.

The government is assessing the impact of the 50 per cent US tariffs imposed by President Donald Trump on the Indian textile and fisheries sectors and is exploring alternative markets to offset potential losses.

Sources told The Tribune that the European Union recently opened up to imports of Indian shrimp, a sector that had earlier faced significant restrictions.

Internally, the major sectors are still assessing the impact of Trump tariffs and no concrete data has been shared by these sectors with the government, which remains engaged with exporters on the way forward.

Meanwhile, Goyal today held a productive meeting in Berlin with German Federal Minister of Economy and Energy Katherina Reiche. This engagement followed their video conference on August 7.

“The discussions focussed on enhancing cooperation in trade, investment, technology, green energy and skilling,” the Indian side said.

Goyal also met Levin Holle, Economic and Financial Policy Adviser at the Federal Chancellery and Germany’s G7 & G20 Sherpa, and discussed ways to further deepen the bilateral economic relationship.

Later, the minister chaired a Roundtable with CEOs and leaders of German Mittelstand companies at the Indian Embassy, who conveyed their keenness to do business in India and expand existing investments.

Goyal highlighted the opportunities offered by India and the measures taken by the government to facilitate investments and ease of doing business.

“The discussions explored synergies and stronger business-to-business linkages, especially in areas of innovation, sustainability and advanced manufacturing,” the ministry said.

Goyal also met Xavier Bettel, Deputy Prime Minister and Minister of Foreign Affairs and Trade of Luxembourg, and held one-on-one discussions with CEOs of leading German companies, including Infineon Technologies, Schaeffler Group, Renk, Herrenknecht AG, Enertrag SE and Mercedes-Benz Group.

On Saturday, Goyal will participate in a panel discussion at the Berlin Global Dialogue and hold further meetings with German industry associations.