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Informist, Wednesday, Sept. 9, 2026

 

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--Trade secy: Fintech can help in services exports
--CONTEXT: Trade Secy Rajesh Agrawal speaking at Global Fintech Fest
--Trade secy: Fintech can help diversify services exports
--Trade secy: Must engage with global partners to provide them services
--Trade secy: Fintech can help with trade financing
--Trade secy: At opportune time, deal will be signed with US
--Trade secy: In final stages of signing FTA with Chile

 

MUMBAI – A trade deal with the US has been more or less finalised and will be signed at an "opportune time", Commerce Secretary Rajesh Agarwal said Wednesday. "From their (US) side, they are operating on executive tariff. So, they are building an architecture which will create that differentials and create a preferential market access. So, I think at an opportune time, both should be able to sign," Agarwal said at the sidelines of the Global Fintech Fest 2026 in Mumbai. 

 

Last week, Commerce Minister Piyush Goyal said that India will finalise and announce details of the bilateral trade agreement with the US as soon as Washington gives the country preferential treatment compared to its peers. Negotiations on the India-US trade pact have seen many an ebbs and flows, with the two countries having major differences on opening up India's sensitive agricultural sector to genetically modified products from the US.

 

The Donald Trump administration's steep reciprocal tariffs and Section 301 probe against India on the failure to effectively prohibit the import of goods manufactured using forced labour and, now, the new Russia-linked bill, have added to the complexity of finalising a deal. The two countries had on Feb. 7 issued a joint statement agreeing on a framework for an interim agreement for mutually beneficial trade but are yet to finalise the first phase of the trade agreement.

 

 

Further, India is in the final stage of signing a trade agreement with Chile, he said. Last month, the commerce ministry said that India remains committed to conclude the Comprehensive Economic Partnership Agreement negotiations with Chile by the end of this year. 

 

"We are at the final stages. There are certain areas on which we are presently stuck," Agarwal said. "But we look forward to the next 2-3 months to be a time period in which we should find something." 

 

Currently, India has a preferential trade pact with Chile. India's total trade with Chile was $6.26 billion in 2025-26 (Apr-Mar), with exports amounting to $1.22 billion and imports to $5.03 billion.

 

Adressing the event, Agarwal said that financial technology can help in trade financing and diversifying services exports, adding that the industry must engage with global partners to provide them services. 

 

"As digital services become more international, trust will become even more important," he said. "Global customers and regulators will expect assurance around cybersecurity, data protection, privacy, resilience, AI explainability and accountability. Responsbile technology should, therefore, not be viewed as a constraint on competitiveness," he added. End

 

US$1 = INR 95.09

 

Reported by Sagar Sen

Written by Pratiksha

Edited by Akul Nishant Akhoury

 

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