India-U.S. trade pact to be finalised once U.S. offers preferential rate: Goyal
Commerce Minister Piyush Goyal stated that India will finalize a bilateral trade agreement with the U.S. once Washington offers competitive preferential rates. India is simultaneously pursuing multiple free trade agreements to expand its global trade access.
Why it matters
India's aggressive pursuit of trade pacts is a key component of its economic strategy to integrate further into global supply chains and increase export competitiveness.
Commerce and Industry Minister Piyush Goyal on Thursday (September 3, 2026) said the details of the Bilateral Trade Agreement (BTA) with the U.S. will be announced once Washington offers preferential terms compared to the country's competitors.
He also said that India's nine free trade agreements (FTAs), spanning economies representing about $60 trillion of GDP, would provide preferential access to nearly two-thirds of global trade.
He said the other FTAs that India would conclude over the next few months and couple of years, including those with Canada, Mexico, Chile, Mercosur, SACU (South Africa Customs Union), GCC (Gulf Cooperation Council) and Israel, together with efforts to review ASEAN, Korea and Japan trade deals would give India access to 75 per cent of global trade at a rate lower than its competitors.
India has implemented trade pacts with the UK, Mauritius, Oman, UAE, and Australia.
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