No Deal Without Protecting Farmers, Fishermen, MSMEs: Piyush Goyal on India-US Trade Talks

Union Commerce Minister Piyush Goyal said on Saturday that trade discussions between India and the United States are progressing positively. He avoided giving a deadline but assured that any final decision on the agreement will be communicated once the negotiations conclude successfully.

India's Stand: Protecting Core Sectors First

"I believe the talks are progressing in a very cordial atmosphere, and I have said many times that free trade agreements or trade talks are never based on deadlines. There is no agreement unless we fully address the interests of the nation - India's farmers, India's fishermen, India's MSME sector," Goyal said.

He added that talks are moving in the right direction and the government will share updates once a decision is reached. His statement came amid concerns over high US tariffs on Indian goods.

At present, US President Donald Trump has imposed a 50 per cent tariff on imports from India, among the highest globally. It includes a 25 per cent base tariff and another 25 per cent over India's purchase of Russian oil.

Shifting Geopolitics and Trade Realignment

Global political shifts are influencing the trade talks. After China tightened export controls on rare earth minerals, Trump threatened a "100 per cent tariff" on Chinese imports. This move could speed up a trade agreement between Washington and New Delhi.

According to a Global Trade Research Initiative (GTRI) report, the United States might offer India tariff access between 16 and 18 per cent, higher than the European Union and Japan but below Vietnam's 20 per cent.

Experts say Trump's aggressive approach toward India may involve political factors. Reports link it to Prime Minister Narendra Modi's refusal to back Trump's claim about brokering a ceasefire with Pakistan during Operation Sindoor.

Despite Trump describing Modi as a "great, personal friend," India has maintained a calm and balanced diplomatic stance. Officials say the government continues to act in the country's long-term interest.

Focus on Strategic Interests and Supply Chains

The GTRI urged India to protect its national priorities. "India must hold firm on its red lines in agriculture, digital trade, e-commerce, and intellectual property, and avoid any anti-China clauses that could limit its strategic autonomy," the report said.

External Affairs Minister S. Jaishankar has repeatedly emphasized these priorities during past discussions. Experts expect the United States to seek greater market access in medical devices, dairy, and technology sectors.

Washington's main goal is to secure manufacturing supply chains and reduce reliance on China. A trade pact with India could strengthen both nations' positions in global markets.

An Indian delegation is currently in the United States for the sixth round of talks, which resumed after a pause in August. US Treasury Secretary Scott Bessent recently named India among key partners in the rare earths sector.

"Ambassador-designate Sergio Gor was recently in India, and he met with all the stakeholders and had good meetings," an official told ANI. Gor also met Prime Minister Modi and presented him a signed photograph from Trump that read, "Mr Prime Minister, you are great."

Government sources told ANI that talks aim for a "win-win solution" between both sides. "We are in deeper discussions, and exports to the US continue to grow. Around 45 per cent of our exports to the US remain out of tariff," officials said.