"First tranche of agreement by November,": Union Minister Piyush Goyal on US-India trade talks

Patna (Bihar) [India], September 11 (ANI): Union Minister Piyush Goyal on Thursday indicated that the first tranche of the agreement with the United States on a trade deal should be finalised by November 2025. 

Speaking at a news conference in Patna, he said, "In February 2025, Prime Minister Narendra Modi and President Trump together instructed us that the ministers of both sides should make a good agreement by November 2025. The first part of that agreement, the first tranche, should be finalised by November 2025, and since March, discussions have been going on on this subject very seriously in a very good environment, progress is being made, and with the progress, both sides are satisfied."

Earlier, US President Trump in a post on Truth Social had indicated that there was a thaw in the tug of war over tariffs imposed on India, saying that the two countries are continuing negotiations to address trade barriers. 

"I am pleased to announce that India and the United States of America are continuing negotiations to address the Trade Barriers between our two nations. I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks. I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!" he posted.

Trump's remark came days after he called the India-US ties a "very special relationship" and affirmed that he and PM Modi would always be friends, asserting that there is "nothing to worry about".

Prime Minister Narendra Modi then endorsed the US President's remarks saying that trade talks between India and the United States would help "unlock the limitless potential" of the partnership.

In a post on X, PM Modi said, "India and the US are close friends and natural partners. I am confident that our trade negotiations will pave the way for unlocking the limitless potential of the India-US partnership. Our teams are working to conclude these discussions at the earliest. I am also looking forward to speaking with President Trump. We will work together to secure a brighter, more prosperous future for both our people."

New Delhi is facing global uncertainties due to heightened economic tensions following the US imposition of a 50 per cent tariff on Indian imports, including an additional 25 per cent due to its purchase of Russian crude oil, which, according to Washington, fuels Moscow's efforts in its conflict with Ukraine.  (ANI)