India-US trade talks remain on track, reports of delay are 'false, baseless and misleading': Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal has dismissed reports suggesting that India has stepped back from or delayed an interim trade agreement with the United States, calling the claims "completely false, baseless and misleading" and reiterating that bilateral negotiations are progressing in a constructive manner.

In a post on X, Goyal said India and the US continue to work towards a trade agreement that is balanced, commercially meaningful and designed to create lasting value for stakeholders in both countries. His remarks come amid heightened attention on the ongoing negotiations between New Delhi and Washington over a proposed bilateral trade arrangement.

Minister rebuts reports on trade negotiations

The minister's response follows media reports claiming that India had declined to fast-track an interim trade pact during the latest round of negotiations. The reports also alleged that Prime Minister Narendra Modi was holding out for a more favourable agreement, citing India's improving economic outlook and domestic political considerations.

Rejecting the claims outright, Goyal pointed to his recent discussions with United States Trade Representative (USTR) Jamieson Greer, describing the engagement as positive and forward-looking.

"This news is completely false, baseless and misleading," Goyal said. "I had fantastic meetings with USTR Jamieson Greer, @USTradeRep, when he visited Delhi in June. Both sides reaffirmed their commitment to an agreement that is balanced, commercially meaningful, and delivers tangible benefits for businesses, farmers, workers, and consumers in both countries."

Focus on commercially meaningful agreement

According to the commerce minister, the objective of the ongoing dialogue is not to conclude a hurried agreement but to build a durable framework that delivers tangible and long-term economic benefits for both nations.

He said the negotiations are focused on securing a commercially viable pact that supports businesses, farmers, workers and consumers across India and the US, while ensuring that the agreement remains balanced and sustainable rather than being driven by short-term political considerations.

Trade pact seen as key pillar of bilateral ties

India and the US have been engaged in negotiations to deepen economic engagement and address market access issues across a range of sectors as part of efforts to further strengthen bilateral trade relations. The proposed agreement is expected to serve as an important stepping stone towards expanding two-way commerce between the world's largest and fifth-largest economies.

Goyal's latest remarks underscore the government's position that discussions with Washington remain on course despite media speculation over the pace of negotiations. By publicly rebutting the reports, the minister sought to reassure businesses and investors that both sides continue to pursue a mutually beneficial trade deal with a focus on long-term commercial outcomes rather than a quick interim arrangement.