New Delhi, September 2(HS): Union Commerce and Industry Minister Piyush Goyal said on Tuesday that India is in active negotiations with the United States on a bilateral trade agreement (BTA). He also noted that India-China relations are gradually moving towards normalization and that tensions will reduce as border issues are resolved.

Addressing the 20th Global Sustainability Summit of the Confederation of Indian Industry (CII) in New Delhi, Goyal’s remarks came days after the Trump administration doubled tariffs on Indian goods in response to India’s continued purchase of Russian crude oil. He stated, We have been negotiating the BTA with the US since March, and five rounds of talks have been completed so far. The US delegation postponed its planned visit to India in late August for the sixth round of talks following India’s imposition of a 50 percent tariff on August 27. No new date has yet been set for the next round.

Goyal highlighted India’s free trade agreements already in place with Australia, the United Arab Emirates, Mauritius, the United Kingdom, and the European Free Trade Association (EFTA), which comprises four European countries. Regarding the India-European Union Free Trade Agreement, Goyal said negotiations are at an advanced stage, noting that Commerce Secretary Sunil Barthwal is currently in Brussels holding discussions with EU officials.

Emphasizing India's long-standing tradition of respecting nature and conserving natural resources, Goyal spotlighted the nation’s remarkable progress in sustainability over the past 11 years. He stressed the role industry and startups can play in bolstering conservation efforts and advancing energy efficiency goals, thereby contributing to the vision of a developed India by 2047.

Additionally, Goyal referenced a meeting held on the sidelines of the Shanghai Cooperation Organization (SCO) Summit, where Prime Minister Narendra Modi and Chinese President Xi Jinping agreed to work toward a fair, reasonable, and mutually acceptable solution to the India-China border dispute. They also recognized the critical role their economies play in stabilizing global trade and pledged to expand trade and investment ties.

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Hindusthan Samachar / Jun Sarkar