India-US trade pact to be finalized in view of changed circumstances: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal. File | Photo credit: ANI

“The US and India announced in February that they had reached a framework for an interim trade agreement, but circumstances have changed and the pact will be finalized accordingly,” Commerce and Industry Minister Piyush Goyal said on Saturday (October 10, 2026).

He also said trade pacts were being negotiated with a number of regions including Israel, Chile, the GCC (Gulf Cooperation Council) and the Russian-led Eurasian Economic Union (EAEU).

“US (trade pact) February I announce hua. Thodi paristhitiyan badli hain, usko abhi madde nazar rakhte hue final hoga. (It was announced in February. Some circumstances have changed; the final decision will be taken keeping that in mind),” Mr Goyal said in New Delhi while addressing members of the PHDCCI Chamber of Industry.

India seeks lower tariffs on its goods than its competitors in US markets. The minister did not elaborate on these circumstances, but the changing customs environment in the US has led to further negotiations on the first phase of the India-US Bilateral Trade Agreement (BTA).

Mr Goyal met US Trade Representative Jamieson Greer on the sidelines of the G20 trade ministers’ meeting in Milwaukee earlier this month. The two discussed issues related to the trade pact.

Furthermore, the minister said that negotiations on a trade pact with Canada are progressing at a faster pace and negotiations on an agreement with the South African-led SACU group will soon begin.

Several countries are interested in negotiating trade deals with India, he said, adding that talks with Mexico will begin next week. Mr Goyal informed that the Trade Ministers of UK and Canada will visit India next week. India and the UK struck a trade deal in July. The UK Minister will attend a meeting of the India-UK Joint Economic and Trade Committee (JETCO).

Piyush Goyal criticizes the opposition

Union minister slams Congress leader Rahul Gandhi for his claims and statements after meeting President Droupadi Murmu.

“It was inappropriate behaviour… He insulted the President… This is a feeling of anarchy,” Mr Goyal said, adding that opposition leaders misbehaved with security personnel.

A delegation of INDIA bloc leaders met President Murmu on Friday evening (October 9, 2026) and handed her a memorandum on the alleged ‘vote chori’.

After the meeting, Mr Gandhi said he was shocked and amazed that the President had not denied the allegations of “election theft” and had “accepted” what the opposition leaders had said.

Published – 10 Oct 2026 22:04 IST