“I consider the talks are progressing in a really cordial ambiance and I've mentioned many occasions that free commerce agreements or commerce talks are by no means primarily based on deadlines. There is no such thing as a settlement until we absolutely handle the pursuits of the nation— India's farmers, India's fishermen, India's MSME sector,” Goyal mentioned whereas addressing a convention on GST Bachat Utsav. “The talks are progressing very properly. The talks are ongoing, and we will certainly inform you once we attain a call,” he mentioned. Indian commerce negotiators, led by commerce secretary Rajesh Agrawal, have been in Washington this week to carry commerce talks with their US counterparts. Washington has imposed 50% tariffs on India.
India and the US goal to conclude the primary tranche of the BTA by the autumn of 2025. Thus far, 5 rounds of negotiations have been accomplished. Final month, Goyal led an official delegation to the US for commerce talks.
Goyal additionally expressed confidence that regardless of world uncertainties because of the US tariffs, India's exports will register development in 2025-26. “The primary six months' exports, regardless of all these uncertainties, have grown by about 6-7% general. And even in merchandise, we now have seen the expansion story of India within the first six months,” he mentioned. India's items exports grew 6.7% on-year in September. “There may be resilience, there's confidence. There may be demand for our items and providers internationally, and India will proceed on this development trajectory, and we're assured we are going to finish the monetary yr 2025-26 with a optimistic development in India's exports,” Goyal mentioned.
Requested if some e-commerce corporations haven't handed on the GST price minimize advantages to customers, Goyal mentioned most have handed it on and above that they've introduced money bonuses and reductions additionally.
“But when any web site or platform has not handed on the advantages …shopper affairs (division) can take motion,” the minister added.
