India-US BTA: Discussions continue in a cordial atmosphere
Sources say Oman FTA may come into effect soon, work on several other FTAs underway
- Jan 28, 2026,
- Updated Jan 28, 2026 6:59 PM IST
Even as India has concluded the free trade agreement (FTA) with the European Union after a period of 20 years, it is working on several other trade deals, officials said, indicating that a few more may be concluded this year or in 2026. “Discussions with the US for a bilateral trade agreement are continuing in a very cordial and good atmosphere,” they said while declining to give a timeline on when the deal will be signed. Negotiations are underway with Israel and the GCC countries for FTAs, the source said, adding that Canada has also expressed a desire to speed up its trade deal with India. Commerce and industry minister Piyush Goyal is likely to travel to Canada in the third week of February to take forward the negotiations, commerce ministry sources said. Meanwhile, the FTA with Chile is also close to completion and is likely to be sped up after the presentation of the Union Budget. The India-ASEAN FTA review is also underway and “taking shape” an official said, adding that discussions with MERCOSUR on the trade pact will start soon, and the scoping study has just begun. “India is happy and willing to expand trade arrangements, and we are carefully looking at each FTA,” the source said, adding that as of now, it is difficult to estimate how much exports will grow due to these deals. In the last few months, India has already concluded four FTAs. The trade pact with Oman, which was signed in December, is likely to be the first one to come into effect. The FTA with New Zealand, which was also concluded in December 2025, is undergoing legal scrubbing and will go for Parliamentary approval soon. In the Comprehensive Economic and Trade Agreement with the UK, which was signed in July 2025, the legal scrubbing of the text has been completed, and the social security agreement is being finalised. It will then be taken to the UK Parliament for approval, the sources said.
Even as India has concluded the free trade agreement (FTA) with the European Union after a period of 20 years, it is working on several other trade deals, officials said, indicating that a few more may be concluded this year or in 2026. “Discussions with the US for a bilateral trade agreement are continuing in a very cordial and good atmosphere,” they said while declining to give a timeline on when the deal will be signed. Negotiations are underway with Israel and the GCC countries for FTAs, the source said, adding that Canada has also expressed a desire to speed up its trade deal with India. Commerce and industry minister Piyush Goyal is likely to travel to Canada in the third week of February to take forward the negotiations, commerce ministry sources said. Meanwhile, the FTA with Chile is also close to completion and is likely to be sped up after the presentation of the Union Budget. The India-ASEAN FTA review is also underway and “taking shape” an official said, adding that discussions with MERCOSUR on the trade pact will start soon, and the scoping study has just begun. “India is happy and willing to expand trade arrangements, and we are carefully looking at each FTA,” the source said, adding that as of now, it is difficult to estimate how much exports will grow due to these deals. In the last few months, India has already concluded four FTAs. The trade pact with Oman, which was signed in December, is likely to be the first one to come into effect. The FTA with New Zealand, which was also concluded in December 2025, is undergoing legal scrubbing and will go for Parliamentary approval soon. In the Comprehensive Economic and Trade Agreement with the UK, which was signed in July 2025, the legal scrubbing of the text has been completed, and the social security agreement is being finalised. It will then be taken to the UK Parliament for approval, the sources said.