India’s Commerce Minister, Piyush Goyal, stated at an investor conference in Mumbai on Tuesday that India is hopeful of concluding a bilateral trade agreement with the United States by November. In a virtual address, Goyal also said that trade negotiations with the European Union are progressing and that relations with China are “returning to normal” as border tensions ease.
During another event, Goyal mentioned that India has already finalized trade agreements with Mauritius, Australia, EFTA, the UK, and the UAE. The United States is India’s largest trading partner, but relations have been strained due to disputes over tariffs and New Delhi’s purchases of Russian oil. Washington imposed a 50% tariff on key Indian exports starting August 27.
