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Piyush Goyal Trashes Reports of India-US Trade Deal Delay as "Baseless"

Commerce Minister Piyush Goyal has firmly dismissed media reports suggesting India is planning to hold off on a trade deal with the United States, labeling them as completely baseless. He emphasized that the existing trade agreement is strong, mutually beneficial, and safeguards India's sensitive sectors like agriculture from imports such as GM products and dairy. Goyal highlighted that the deal will enable India to access advanced American technologies, positioning the country as a future global data center hub. This reassurance comes alongside news that the US has initiated fresh trade investigations into several partners, including India, following a recent Supreme Court ruling.

Key Points: Goyal Rejects Reports of India-US Trade Deal Hold-Off

  • Minister denies deal delay reports
  • Deal protects India's sensitive agriculture sectors
  • Agreement facilitates tech transfer for AI and data centers
  • US initiates new trade probes against India and others
2 min read

Commerce Minister Piyush Goyal rejects reports on India holding off US trade deal

Commerce Minister Piyush Goyal denies reports of delaying US trade deal, calls them baseless and reaffirms the agreement as a win-win for both nations.

"There is some absolutely baseless report circulating... which you should trash. - Piyush Goyal"

New Delhi, March 14

Union Minister of Commerce and Industry Piyush Goyal on Friday rejected reports suggesting that India is planning to hold off trade deal with the United States for several months.

Speaking at the NXT Summit 2026 in New Delhi, the Union minister said, "There is some absolutely baseless report circulating from today morning... which you should trash. There is absolutely no basis in it at all. We have a very good trade agreement with the United States of America."

Piyush Goyal reassured that the deal is a win-win deal for both India and the United States saying, "We have been able to protect all our sensitive sectors like Agriculture. India's interests have been safeguarded like no GM products, no rice, no corn, no maize, no soya bean and no dairy or poultry either. It is a very powerful agreement, it is great for both India and America as every trade deal should be."

The Commerce Minister also highlighted how India would gain from the deal in the long run.

"The deal also helps us get the best of technologies from America so that we can become the data centre of the world and can have large investments post the successful AI Summit", he said.

Earlier, Commerce Ministry officials said India and the United States remain engaged for a mutually beneficial trade agreement, and there is no holdup in bilateral engagement.

The United States and India last month announced that they have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade.

The framework reaffirmed the countries' commitment to the broader US-India Bilateral Trade Agreement (BTA) negotiations, launched by President Donald J. Trump and Prime Minister Narendra Modi on February 13, 2025, which will include additional market access commitments and support more resilient supply chains.

A joint statement said that the Interim Agreement between the United States and India will represent a historic milestone "in our countries' partnership, demonstrating a common commitment to reciprocal and balanced trade based on mutual interests and concrete outcomes".

Meanwhile, in a fresh development, the Donald Trump administration has initiated fresh investigations into alleged "unfair trade practice" by 16 major trading partners, including India, China, and Bangladesh. The move aims to reinstate tariff pressure following a US Supreme Court ruling last month that declared previous levies illegal.

- ANI

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Reader Comments

R
Rohit P
"Data centre of the world" – now that's an ambitious vision! If this deal brings in the tech and investment for our AI and data infrastructure, it could be a game-changer for our IT sector and job creation. Fingers crossed.
D
David E
As someone working in Indo-US trade, this clarification was much needed. The framework last month was positive, but the new US investigations into "unfair practices" are a concern. Hope it doesn't become a stumbling block. The deal needs to be truly balanced.
A
Aditya G
Win-win deal sounds good on paper. But we must be cautious. The US always drives a hard bargain. While protecting agriculture is great, we need to see the fine print on services, digital trade, and intellectual property. Jai Hind.
S
Sarah B
Respectfully, the minister's strong denial is reassuring, but the timing is interesting with the new US investigations announced. It feels like we're constantly negotiating from a position of reacting to US moves. A more proactive, long-term trade strategy would inspire more confidence.
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Karthik V
No rice, no corn, no dairy... this is crucial for crores of our farmers. This should be the bottom line for any deal. Technology transfer is the bonus. Hope the government stands firm on this.

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