Page 11 - Piyush Goyal

Trade deal: 18% US tariff to kick in after joint statement in 4-5 days

Goyal says first tranche of 'formal' pact by mid-March

India, US to sign first tranche of formal trade agreement by mid-March

India and the United States are set to sign the first tranche of a formal trade agreement by mid-March, Commerce and Industry Minister Piyush Goyal said, following a joint statement expected shortly

India, Gulf Cooperation Council sign terms of reference to begin FTA talks

India and the six-nation bloc of Middle Eastern nations, the Gulf Cooperation Council (GCC), on Thursday inked terms of reference on Thursday for starting talks for a Free Trade Agreement (FTA). The terms of reference (ToR) outline the scope and modalities of a proposed trade pact. Commerce and Industry Minister Piyush Goyal presided over the signing ceremony of the ToRs with GCC. GCC is a union of six countries in the Gulf region -- Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain. Goyal said that the agreement will help boost bilateral trade and investments between the two. He added that about 10 million Indians are living and working in the GCC region. India has already implemented a free trade pact with the UAE in May 2022. India and Oman also signed a Comprehensive Economic Partnership Agreement (CEPA) in Muscat on December 18, 2025. Launch of FTA talks with the GCC would be a kind of resumption of the negotiations, as the earlier two rounds of negotiations were held

India, US likely to sign joint statement on trade deal in 4-5 days: Goyal

India and the US are expected to finalise and sign a joint statement on the first tranche of the bilateral trade agreement in 4-5 days, Commerce and Industry Minister Piyush Goyal said on Thursday. After the joint statement is signed, the US will come out with an executive order on reducing tariffs on India to 18 per cent. At present, Indian goods attract a 25 per cent reciprocal tariff and a 25 per cent additional tariff for buying Russian crude oil. Goyal told reporters that a legal agreement for the first tranche of the pact is expected to be signed by mid-March. The joint statement will be followed by an exhaustive legal agreement, he said. Goyal also said that there is no investment commitment in this pact. Once the statement is signed, it will be converted into a legal agreement and mid-March, "We are hopeful of signing that legal agreement," Commerce Secretary Rajesh Agrawal said. The signing of the legal text will lead to a cut in tariffs by India on certain US goods.

'Detailing of trade negotiations underway': EAM on India-US trade deal

The EAM's visit coincides with the agreement between two of the World's largest democracies on a trade deal

Diversifying energy sourcing amid changing global dynamics: Goyal

Commerce and industry minister Piyush Goyal told Parliament that India protected key food and agriculture interests in the trade deal with the US, while both sides addressed sensitive areas

Sensitive sectors safeguarded in US trade deal: Piyush Goyal in Lok Sabha

Parliament Budget session: Piyush Goyal said that India protected sensitive sectors like agriculture and dairy in India-US trade deal, adding that labour-intensive sectors will benefit

India-US trade deal: Agri, dairy interests 'protected', says Piyush Goyal

Goyal said both sides were working on a "joint statement" outlining the details of the first phase of the agreement

Trade deal details being finalised; agri, dairy sectors protected: Goyal

Addressing a press conference, Goyal said India secured more favourable terms than several comparable countries that have entered into trade arrangements with the United States

India-US deal boosts Make in India, unlocks growth for farmers: Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday said the India-US trade agreement will open up huge opportunities for domestic farmers, MSMEs, entrepreneurs, and skilled workers and promote Make in India initiative. India and the US have agreed to a trade deal under which Washington will bring down reciprocal tariff on Indian goods to 18 per cent from current 25 per cent, US President Donald Trump said on Monday after a phone conversation with Prime Minister Narendra Modi. Goyal said it will help India get technology from the US. "This agreement unlocks unprecedented opportunities for farmers, MSMEs, entrepreneurs, and skilled workers to Make in India for the world, Design in India for the world, and Innovate in India for the world," Goyal said in a post on social media. He added that the development reflects the power of two like-minded, fair-trading democracies working together for shared prosperity. "Both India and US are natural allies and our partnership will co-create

Piyush Goyal meets National Stock Exchange's CEO Ashish Chauhan in Mumbai

Commerce and Industry Minister Piyush Goyal on Monday held a meeting with National Stock Exchange (NSE) MD and CEO Ashish Kumar Chauhan in Mumbai on the holistic benefits of the Budget 2026-27. Investors and captains from the mutual funds and asset management industry were also present at the meeting. "Had an excellent and engaging breakfast meeting on the holistic benefits of the #ViksitBharatBudget2026 at the NSE, with their MD & CEO @AshishChauhan ji, along with investors and captains from the mutual funds and asset management industry. Delighted by their optimism following the budget, their excitement for the growth opportunities that it supports, as well as the new ideas and suggestions that they shared," Goyal said in a social media post. The meeting comes on the heels of the FY27 Budget proposal to increase the securities transaction tax (STT) on futures contracts to 0.05 per cent from 0.02 per cent. STT on options premium and exercise of options are proposed to be raised ..

This Budget shows a confident, future-ready Bharat, says Piyush Goyal

This is a Budget that shows a future-ready Bharat, and carries forward the reforms that the Prime Minister initiated on August 15 last year, says Goyal

Finalised eight FTAs with 37 developed countries in recent years: Goyal

India has finalised eight free trade agreements (FTAs), covering 37 developed countries in the last few years, Commerce and Industry Minister Piyush Goyal has said. He also said that India is in active dialogue for similar pacts with several countries, including Chile, Peru and Canada. Trade negotiations with Chile, he said, are almost at conclusion, where India has interests in critical minerals. "We've done eight free trade agreements covering 37 developed countries in the last few years under the Modi-government," the minister told PTI. Since 2014, India has finalised eight trade pacts -- Mauritius (April 2021 implemented), Australia (December 2022 implemented), UAE (May 2022 implemented), Oman (signed in December 2025), UK (signed in July 2025), EFTA (implemented in October 2025 - Switzerland, Iceland, Liechtenstein, Norway), New Zealand (talks concluded in December 2025), and the European Union (27-nation bloc). Goyal added that talks for a trade pact have started with the ..

India, US working towards closing trade deal quickly, says Piyush Goyal

The negotiations for a proposed bilateral trade agreement between India and the US are progressing, and both countries are working to close the deal "quickly", Commerce and Industry Minister Piyush Goyal said on Saturday. He expressed confidence that "good news" on this front will be announced in the near future. "Every free trade agreement stands on its own legs. And we are having very good negotiations. My counterpart in the US and I have a very wonderful working relationship and a wonderful personal friendship. We are working towards closing the deal quickly," Goyal told PTI in an interview. He was replying to a question about when the "father of all deals" between India and the US would become a reality, now that the "mother of all deals" is already in the bag. The free trade agreement between India and the European Union, which was concluded recently, has been widely termed as "mother of all deals". On whether the India-US trade pact could be concluded by the end of this year

Goyal says do not expect a merger of NCP factions after Ajit Pawar's death

Union Minister Piyush Goyal on Saturday said he did not expect the merger of two Nationalist Congress Party (NCP) factions - each headed by Ajit Pawar, who was killed in a plane crash two days ago, and his uncle Sharad Pawar. He said that the NCP, as part of the Mahayuti government in Maharashtra, has performed very well. "I personally do not see that will happen," he told PTI in an interview when asked his views on the talks of the merger of the two NCP factions. Goyal said that the NCP leadership "was with Ajit Pawar and now with Sunetra Pawar Ji". He added that Praful Patel has been appointed as the national president of the Nationalist Congress Party. "I don't see Mr Sharad Pawar being invited to join the NCP, given that he has lost the people's trust and the vote," he added.

With FTA, India's exports to EU can double in 5 years, says Goyal

India's exports to the EU could double to $150 billion within five years of the FTA, says Piyush Goyal, stressing balanced market access while protecting sensitive sectors

India at high table of global geopolitics: Piyush Goyal hails India-EU FTA

Goyal emphasised that the agreement is a win-win deal that will drive economic growth and create new opportunities

India-EU FTA to benefit industry on both sides, spur investments: Goyal

Speaking after the conclusion of the India-EU free trade agreement, Goyal said the pact was a win-win for all sections of industry in India as well as Europe

India to get access to EU market for over 99% of exports under FTA: Goyal

India will get an "unprecedented" market access at concessional duties for over 99 per cent of its exports by value in the European Union (EU) market, providing a boost to domestic labour-intensive sectors, Commerce and Industry Minister Piyush Goyal said on Tuesday. The two sides announced on January 27 the conclusion of negotiations for the free trade agreement (FTA). "India and the EU, under the leadership of PM @NarendraModi ji, European Commission President @VonderLeyen and European Council President @AntonioCostapm have inked the 'Mother of all Trade Deals'," he said in a social media post. Goyal said that the pact is a strategic breakthrough in the country's global trade engagement, unlocking vast opportunities in the USD 20 trillion EU market for 1.4 billion people. "It is a deal that gives unprecedented market access for over 99 per cent of our exports by value, providing a massive impetus to our labour-intensive sectors and bolstering Make In India," the minister said. T

Closer to 'fruitful outcome' on EU trade deal, says Piyush Goyal

Commerce Minister Piyush Goyal said India and the European Union are close to a fruitful conclusion of free trade agreement talks, with the outcome expected to be announced