New Delhi: Details regarding the Bilateral Trade Agreement (BTA) with the US will be announced once Washington offers preferential terms to New Delhi compared to the country’s competitors, Union Commerce and Industries Minister Piyush Goyal said on Thursday.
Addressing an event in the national capital, the minister further said that nine of India’s FTAs, of about USD 60 trillion of GDP, will help in providing nearly two-thirds of global trade. He added that India would also complete a few FTAs in a few months and a couple of years, news agency PTI reported.
Trade with New Zealand will go live soon: Goyal
“(Trade pact with) New Zealand will get live soon and thereafter (FTA with) EU, the 27-nation bloc, will get live. And as soon as the US can give us the preferential rate, in comparison to our competition, we will finalise the BTA and announce the final details,” the agency quoted the minister as saying.
Earlier in February, both India and the US announced that the FTA between both countries had been finalised for the first phase of the pact. However, changes in the tariff landscape in the US resulted in further negotiations between India and the US. On July 24, the US had imposed an additional 10 percent tariff on some countries, including India.
Goyal to visit the US this month
Notably, the minister will visit the US this month for the G-20 Trade Ministerial in Milwaukee. During the visit, the minister will hold talks with USTR Jamieson Greer. The two-day event will begin on September 30.
Speaking further at the event, the minister further said that India has set the target of $1 trillion in exports for the current year. Importantly, exports during the first four months of 2026 touched nearly $317 billion, as against $280 billion during April-July in 2025.
