Mumbai

Commerce and Industry Minister Piyush Goyal on Thursday said that India’s ongoing trade discussions with the United States are advancing steadily, with both sides having already held several meaningful rounds of dialogue.

Speaking to reporters in Mumbai, Goyal emphasised that trade agreements must be crafted in a manner that benefits both countries, cautioning that rushing negotiations often leads to errors.

“Talks are progressing well. We have gone through multiple rounds—around five so far—and each has involved extensive engagement. This visit, however, is not part of the formal negotiation process,” he clarified. “The new Deputy USTR, who took charge about three months ago, is in India for the first time. We are using this opportunity to build familiarity and understanding. Our conversations have been very substantive.”

Reiterating his long-standing position on trade deals, Goyal added, “An agreement should only be finalised when the interests of both sides are served. Setting deadlines can push negotiators into making concessions that may not be wise.”

Responding to comments attributed to United States Trade Representative Jamieson Greer—suggesting the US had secured its best-ever trade arrangement with India—Goyal said the USTR’s satisfaction is a positive sign. “If they are genuinely pleased, then signing the agreement should be the natural next step,” he remarked.

Goyal had earlier, on Wednesday, voiced confidence in the ongoing discussions, noting that the interactions between the two nations were “moving in the right direction” toward a potential bilateral trade pact.

On the sidelines of the Rajasthani Pravasi Divas, he explained that a US delegation has been in India since Tuesday and that the talks have been constructive. “Trade pacts are complex, involving numerous dimensions. Several issues have already been aligned,” the minister said.

ALSO READ: NASA astronaut Pettit delights Muslims with his unique picture of Kaba

He further noted that both nations had used the latest meetings to clarify their respective priorities and sensitivities. While avoiding commitments on timelines, Goyal stressed that the final outcome will rest on ensuring gains for both India and the US.