Trade momentum between India and the US gained fresh impetus Thursday when Commerce Minister Piyush Goyal met with Howard Lutnick, US Commerce Secretary, and Sergio Gor, the US envoy in India. Goyal termed the New Delhi huddle ‘very meaningful,’ targeting stronger economic bonds.
Via X, Goyal detailed hosting the duo for strategic deliberations on amplifying trade partnerships. Core themes included mutual growth opportunities and relationship consolidation.
Gor praised the lunch as productive, highlighting collaborative prospects across sectors. India’s current drive aligns with bolstering its global trade footprint through key alliances.
Key government thrust: expanding market horizons for exporters and linking them to worldwide supply ecosystems. Boasting nine FTAs with 38 partners, India accesses two-thirds of global commerce, boosting exports in goods, services, agri-fisheries, and manpower fields.
Goyal positions self-reliance as a global connector, forging trustworthy chains. He rallies industry to channel worldwide gains to SMEs, farmers, and fishers.
At Mumbai’s prestigious awards gala, he spotlighted entrepreneurs’ and youngsters’ centrality in propelling India to developed status by 2047.
This builds on February’s outline deal curbing US duties on Indian goods to 18% from 50%, matched by India’s $500B US purchase roadmap over five years. Supreme Court nixing of tariffs has reshaped dynamics, leading India to hold off on Washington visits yet affirm deal continuity.
Observers expect India to embed safeguards versus legal tariff flips, while syncing economic goals with US relations. Trump’s ‘fair trade’ rhetoric with sustained collections hints at evolving negotiations ahead.