Union Commerce Minister Piyush Goyal declared India-US bilateral trade talks a “positive, good deal” nearing completion, with no remaining “sticky issues” to resolve—signaling a landmark pact poised to supercharge bilateral commerce amid fresh EU and UK FTAs.
Breakthrough Momentum in Strategic Partnership
Goyal emphasized active, friendly engagements, stating, “We can now look at moving towards closure,” without artificial deadlines but with mutual satisfaction guiding the timeline.
Post-August US tariffs under President Trump (50% on select imports), talks resumed positively, with Economic Survey 2026 forecasting conclusion this year to slash external uncertainties.
India negotiates from strength, eyeing its $30 trillion 2047 economy, attracting partners eager for future gains over current $4 trillion realities.
Lessons from EU ‘Mother of All Deals’ Template
Fresh off EU FTA closure—zero duties on $33.5 billion labor-intensive exports like textiles (potential $40-50 billion surge)—Goyal hailed EU’s sincerity since 2022, crediting Commissioner Maroš Šefčovič’s 10 meetings for crossing the finish line.
Sensitive sectors shielded: dairy/agri protected, CBAM expansion blocked via non-violation clauses, mobility pathways via bilateral pacts like Germany’s, recognizing India’s skilled, law-abiding talent amid global shortages.
UK deal equally stellar, proving India’s evolved strategy: sideline sensitivities early, leverage political stability, and decisive leadership under PM Modi for “super deals.”
Safeguards and Wins Across Key Sectors
Autos insulated—EU can’t compete below ₹20 lakh post-costs; table grapes secured duty-free quotas over wine grape protections, unlocking billions in lost opportunities from past hesitations.
EU ratification targeted 2026 via legal scrubbing/parliamentary nods, backed by German Chancellor’s urgency for world’s second-largest internal market post-China.
Global Trade Vision: From Isolation to $30 Trillion Powerhouse
Goyal lamented 20-year delays costing jobs/FX, now reversed: “India respected globally for stability, talent,” negotiating as equals/superior partners.
Canada restarts post-election; GCC, New Zealand, Chile next; focus manufacturing/services, innovation, startups, logistics amid 8 FTAs dissemination via councils.
US deal exemplifies Modinomics: future-focused FTAs propelling Viksit Bharat as export-driven developed nation engaging developed world without isolation.
