India in energetic dialogue for commerce pact with U.S., EU, Oman: Goyal

India has applied various free commerce agreements with developed nations and is in energetic dialogue for such pacts with nations together with the U.S., Oman, and the EU, Commerce and Industry Minister Piyush Goyal stated.

India has applied commerce pacts with Australia, the UAE and EFTA bloc. It has additionally signed an settlement with the U.Okay.

“We have done free trade agreements (FTAs) with many developed countries in the last three years…We are in active dialogue with the U.S., EU, Chile, Peru, New Zealand, and Oman,” the Minister informed reporters in New Delhi.

“It clearly shows that India is the favoured and preferred destination both for investment and for bilateral trade,” he added.

Mr. Goyal additionally stated that on Thursday (October 16, 2025), with Brazil, he has mentioned increasing the preferential commerce settlement from its present stage in order that “we can” sooner or later penetrate the South American market in a much bigger manner.

The Indian official workforce is in Washington at current to carry commerce talks with their U.S. counterparts. The workforce will probably be there until Friday (October 17, 2025). In February this yr, leaders of India and the U.S. directed officers to barter a proposed Bilateral Trade Agreement (BTA).

They have mounted a deadline to conclude the primary tranche of the pact by the autumn (October-November) of 2025. So far, 5 rounds of negotiations have been accomplished. Last month, Mr. Goyal led an official delegation to New York for commerce talks.

These deliberations are essential because the relations between the 2 international locations have been reeling below extreme stress after the Trump administration imposed a steep 50% on Indian items. It features a 25% further import obligation for getting Russian crude oil.

India has described these duties as “unfair, unjustified and unreasonable”. The Indian trade has additionally raised considerations over Mr. Trump’s new coverage on H1B visas. However, the current telephone conversations between Prime Minister Narendra Modi and U.S. President Donald Trump have raised hopes of a optimistic consequence from the continuing negotiations for the commerce deal.

After a quick hole, Assistant U.S. Trade Representative for South and Central Asia Brendan Lynch held talks with Indian officers in New Delhi on September 16. In that assembly, each side agreed to push for an early and mutually helpful conclusion of the settlement.

The proposed pact goals to greater than double the bilateral commerce to $500 billion by 2030 from the present ₹191 billion. The U.S. remained India’s largest buying and selling associate for the fourth consecutive yr in 2024-25, with bilateral commerce valued at $131.84 billion ($ 86.5 billion exports). It accounts for about 18% of India’s whole items exports, 6.22% in imports, and 10.73% within the nation’s whole merchandise commerce.

India’s merchandise exports to the U.S. declined by 11.93% to $5.46 billion in September because of the excessive tariffs imposed by Washington, whereas imports elevated by 11.78% to $3.98 billion through the month, in response to the Commerce Ministry knowledge.