'Announcement likely soon': Piyush Goyal gives big update on India-US trade deal
On Wednesday, Goyal told reporters in Vishakhapatnam that India will have one of the "best" trade deals with the US in every respect.
- Nov 13, 2026,
- Updated Nov 13, 2026 11:27 AM IST
Union Commerce and Industry Minister Piyush Goyal on Friday said that an announcement regarding the India-US trade deal is likely "quite soon". Speaking to Business Today TV, Goyal said that the US is an extremely important partner in terms of trade, technology, defense ties and the critical mineral partnership between the two countries.
He added that the talks between India and the US are progressing smoothly, with only a few outstanding issues left to resolve.
"We're having fabulous negotiations with the United States of America. They are a very, very important partner of India's in terms of trade, in terms of technology, our defense partnership, our critical mineral partnership. It's a very multidimensional relationship. I think in every respect our negotiations are smooth, very friendly, and I think the good news is that there are no obstacles and a few issues left which we are sorting out. Everything is possible, and you could hear the announcement quite soon," Goyal told Business Today TV's Karishma Asoodani in an exclusive interaction.
On Wednesday, Goyal told reporters in Vishakhapatnam that India will have one of the "best" trade deals with the US in every respect. He added that New Delhi has negotiated a very good set of outcomes with the US in the pact.
"And in every respect, India will have one of the best deals with the US," he was quoted as saying by PTI.
Earlier this month, US Ambassador to India Sergio Gor said that the trade agreement between the two countries has been "at the finish line for a very long time". Speaking to reporters before the Quad Foreign Ministers' Meeting, Gor said, "The trade agreement has been at the finish line for a very long time, and we hope we will be able to get it across the finish line."
Citing the India-EU FTA, he said, “The one thing I tell people: keep in perspective, the European Union trade deal with India took almost 20 years. We’ve been at this for a little over a year, so we got plenty of time."
He added, "We will get it." Describing the bilateral relationship as "great", the US Ambassador to India said, "Pick any sector, pick any item. The United States and India are working at it at a higher level than ever before," citing pharmaceuticals, IT and military exercises.
DON'T MISS | 'India-US trade deal at finish line', says Sergio Gor; highlights surging defense ties
Days after Sergio Gor's comments, Goyal reiterated New Delhi's red line on allowing genetically modified (GM) products into India and opening the country's dairy sector under FTAs. Speaking at Kirori Mal College, Goyal said the government would not compromise on sensitive agricultural sectors or the interests of farmers.
"We are very sensitive to opening up to certain agricultural produce, certain goods that we are very strong on like marine products. We are very sensitive to opening our dairy. In fact, till date, we have never opened up dairy for anybody," he said. "We are very sensitive not to allow any GM products to come to India and we have never allowed it and we'll never allow it in the future."
In February this year, India and the US finalised a framework for the first phase of the bilateral trade agreement. Changes in the tariff landscape and evolving geopolitical situations have, however, led to further negotiations.
Watch full video here
(With PTI inputs)
Union Commerce and Industry Minister Piyush Goyal on Friday said that an announcement regarding the India-US trade deal is likely "quite soon". Speaking to Business Today TV, Goyal said that the US is an extremely important partner in terms of trade, technology, defense ties and the critical mineral partnership between the two countries.
He added that the talks between India and the US are progressing smoothly, with only a few outstanding issues left to resolve.
"We're having fabulous negotiations with the United States of America. They are a very, very important partner of India's in terms of trade, in terms of technology, our defense partnership, our critical mineral partnership. It's a very multidimensional relationship. I think in every respect our negotiations are smooth, very friendly, and I think the good news is that there are no obstacles and a few issues left which we are sorting out. Everything is possible, and you could hear the announcement quite soon," Goyal told Business Today TV's Karishma Asoodani in an exclusive interaction.
On Wednesday, Goyal told reporters in Vishakhapatnam that India will have one of the "best" trade deals with the US in every respect. He added that New Delhi has negotiated a very good set of outcomes with the US in the pact.
"And in every respect, India will have one of the best deals with the US," he was quoted as saying by PTI.
Earlier this month, US Ambassador to India Sergio Gor said that the trade agreement between the two countries has been "at the finish line for a very long time". Speaking to reporters before the Quad Foreign Ministers' Meeting, Gor said, "The trade agreement has been at the finish line for a very long time, and we hope we will be able to get it across the finish line."
Citing the India-EU FTA, he said, “The one thing I tell people: keep in perspective, the European Union trade deal with India took almost 20 years. We’ve been at this for a little over a year, so we got plenty of time."
He added, "We will get it." Describing the bilateral relationship as "great", the US Ambassador to India said, "Pick any sector, pick any item. The United States and India are working at it at a higher level than ever before," citing pharmaceuticals, IT and military exercises.
DON'T MISS | 'India-US trade deal at finish line', says Sergio Gor; highlights surging defense ties
Days after Sergio Gor's comments, Goyal reiterated New Delhi's red line on allowing genetically modified (GM) products into India and opening the country's dairy sector under FTAs. Speaking at Kirori Mal College, Goyal said the government would not compromise on sensitive agricultural sectors or the interests of farmers.
"We are very sensitive to opening up to certain agricultural produce, certain goods that we are very strong on like marine products. We are very sensitive to opening our dairy. In fact, till date, we have never opened up dairy for anybody," he said. "We are very sensitive not to allow any GM products to come to India and we have never allowed it and we'll never allow it in the future."
In February this year, India and the US finalised a framework for the first phase of the bilateral trade agreement. Changes in the tariff landscape and evolving geopolitical situations have, however, led to further negotiations.
Watch full video here
(With PTI inputs)