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Informist, Tuesday, Sept. 22, 2026

--Minister Goyal: Trade talks with US going on in right direction

--CONTEXT: Commerce Minister Goyal at a conference in Mumbai

NEW DELHI – Commerce Minister Piyush Goyal Tuesday said negotiations on the India-US trade pact was under way and in the right direction. "India is currently in talks with the US and the negotiations are progressing well," Goyal said.

"The talks with the US is going on in the right direction," Goyal said at Anand Rathi Annual Conference G 200 Summit 2026 in Mumbai. The India-US trade talks have seen many ebbs and flows, with both the countries continuing to negotiate a bilateral trade agreement.

Goyal reiterated that the nine free-trade agreements signed in the past have helped India receive preferential access compared with its peers. New Delhi is seeking a similar treatment out of the India-US trade talks. The US is India's largest export destination. India exported goods worth $42.79 billion to the US during Apr-Aug, up 6.2%, while it imported goods worth $28.09 billion from the US, up 65.8%. India and the US had a total trade of $132.14 billion in FY26, with India exporting goods worth $86.51 billion to the US and importing goods worth $45.63 billion.

Meanwhile, India's merchandise exports grew 15% on year between Apr. 1 and Sept. 14, according to the minister. "India has never seen that before (15% export growth)," Goyal said, attributing the growth to the free trade agreements with developed economies.

Further, he said India's free trade agreement with the European Union will also open doors for duty-free items from 27 EU nations by next year. So far, India has signed free trade agreement with 38 developed countries, including the one recently signed with New Zealand and the UK, giving New Delhi a preferential access to these economies. These trade agreements cumulatively accounts for $60 trillion, the minister said.  End

US$1 = INR 95.83

Reported by Shweta

Edited by Akul Nishant Akhoury

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