New Delhi, September 3, 2026 (Yes Punjab News)
Commerce and Industry Minister Piyush Goyal on Thursday said India will finalise the bilateral trade agreement with the US once Washington provides Indian exporters with a preferential tariff advantage over competing countries.
Speaking at the National Workshop on “Leveraging FTAs: An Outreach Programme”, Goyal said India had secured favourable outcomes in all nine free trade agreements (FTAs) finalised so far.
He said each agreement had been designed as a win-win arrangement, with sensitive sectors, including those concerning farmers, fishermen, MSMEs and workers, receiving due consideration. Critical sectors such as pharmaceuticals, textiles, processed agri-foods and agricultural products had also secured outcomes that India could be proud of, he said.
Goyal said the bilateral trade agreement with the US would be finalised “as soon as the United States was able to provide India a preferential rate in comparison with India’s competition”, following which the finer details would be announced.
The minister also outlined India’s expanding network of operational and upcoming FTAs. He said the India-UK FTA came into force on July 15, while agreements with Mauritius, Oman, the UAE and Australia were already operational.
The European Free Trade Association (EFTA), comprising four countries, is also set to become operational, followed by New Zealand and subsequently the European Union, comprising 27 nations, he said.
Goyal said India’s exports during the first four months of the current financial year had reached around $317 billion, compared with $280 billion during April-July last year, marking an increase of about $36-37 billion.
He noted that exports generally gain momentum as the country approaches the Christmas season and peak during the January-March quarter. Describing the current trend as encouraging, he stressed the need to sustain the growth.
Referring to the August export figures available so far, Goyal said India appeared to be on course to maintain the momentum. He expressed confidence that with collective efforts and the opening of more opportunities, the benefits would reach every district and sector with export potential.
The government would work to expand India’s product basket, encourage new exporters, help small exporters scale up and provide support to established exporters, Goyal said.
He also stressed the need to extend support to small exporters in areas affected by disruptions related to the Strait of Hormuz.
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