India-US Trade Deal Soon? After EU FTA, India Eyes Trade Deals With US, Canada, Chile: Piyush Goyal

Following the successful Free Trade Agreement with the European Union, India is now looking towards finalising atrade deal with the United States and similar deals with other nations. Union Commerce Minister

Piyush Goyal said that India is all set to finalise trade deals with multiple nations, and is in talks with the US, Canada and Chile. Speaking about upcoming international trade deals in an interview with ANI, Union Minister Piyush Goyal said, "Every deal, every FTA, stands on its own merits, and India makes its decisions based on its own assessment of the advantages and disadvantages. No deal is dependent on any other deal, nor is any deal negotiated according to a deadline... Very meaningful discussions are underway with many countries. I can assure you with complete confidence that India will open up new markets while protecting its own interests. It will continue to forge new agreements to provide more opportunities for its exporters, and at the same time, safeguard the interests of our farmers, fishermen, livestock breeders, and small-scale industries.""We are in very advanced stages of discussions in Chile, and we are also in talks with Canada and the USA. We will also be starting discussions with the six countries of the Gulf Cooperation Council (GCC) very soon," he added.Goyal also hailed the India-EU Free Trade Agreement (FTA) as a landmark deal that places India at the high table of international geopolitics. Speaking to ANI on the FTA, Goyal emphasised that the agreement is a win-win deal that will drive economic growth and create new opportunities for Indian businesses and citizens. India and the US held multiple rounds of negotiations last year to firm up the proposed bilateral trade deal following Prime Minister Narendra Modi's trip to Washington. However, the talks hit a roadblock after US President Donald Trump slapped whopping 50-per cent tariffs on Indian goods, including a 25-per cent punitive levy over Russian oil purchases, in August last year. Apart from the tariffs, the relations came under strain on a number of other issues that included Trump's claim of ending the India-Pakistan conflict in May last year and Washington's new immigration policy.However, soon after taking chargeUS envoy to India Sergio Gor signalled the US' intent to rebuild ties with India, saying that New Delhi was Washington's most important partner. India and the US have made "very significant" progress in their negotiations for a trade deal, authoritative sources said on Wednesday. New Delhi maintained a steady momentum in the talks with Washington for a positive outcome even during the final stages of concluding its free trade pact with the European Union, they added.In Davos on January 21, US President Trump had expressed confidence over the India-US Bilateral Trade Agreement (BTA), noting that the two countries are "going to have a good deal", while praising Prime Minister Narendra Modi as a close friend and respected leader. Trump made this comment following his address at the 56th Annual Summit of the World Economic Forum."I have great respect for your Prime Minister. He's a fantastic man and a friend of mine, and we are going to have a good deal," Trump said when asked about the India-US trade deal by Moneycontrol.