India is looking for a trade pact with US

US is the largest export destination of India. For augment their bilateral trade further, Indian Commerce and Industry Minister Piyush Goyal has stated that India would be “happy and willing” to negotiate a trade agreement with the US. Though he further added that currently, US administration is not looking for a free trade agreement (FTA) with any new partner.

“Should they change their mind, India would be happy and willing to discuss. Without that also, we are engaged in attracting investment, technology, and trade between the two countries,” commented Goyal.

When the Trump administration was in the power, a “limited” deal was discussed between both the countries to cover an annual trade of over US$13 billion, or 15% of bilateral shipments. However the deal could not materialize because the new administration came into power in the US. While addressing the US India Strategic Partnership Forum (USISPF), he also mentioned that a trade deal is in a progress with Canada and it is expected to finalise an early-harvest deal by December.

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