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India-US Trade Deal To Boost Bilateral Ties, Says Piyush Goyal

Union Minister Piyush Goyal expressed confidence that the India-US partnership will scale new heights following an interim trade deal. The recently announced framework establishes an 18% reciprocal tariff on select Indian goods like textiles and chemicals. The deal also outlines cooperation on non-tariff barriers, supply chains, and digital trade rules as a step toward a broader agreement. Separately, Goyal met with KKR's Henry Kravis to discuss expanding investments, highlighting India's reform-driven growth trajectory.

Key Points: India-US Trade Deal: Piyush Goyal Meets US Ambassador

  • Interim India-US trade deal announced
  • 18% reciprocal tariff on select goods
  • Framework for comprehensive Bilateral Trade Agreement
  • Focus on non-tariff barriers & supply chains
  • Goyal meets global investor Henry Kravis
2 min read

India-US partnership to reach newer heights, says Piyush Goyal after meeting Ambassador Sergio

Union Minister Piyush Goyal confident India-US partnership will reach new heights with interim trade deal framework and 18% reciprocal tariffs.

"Confident that the India-US partnership will reach newer heights with the #IndiaUSTradeDeal - Piyush Goyal"

New Delhi, February 10

Union Minister for Commerce and Industry Piyush Goyal on Tuesday expressed confidence that the India-US partnership will scale new heights in the coming period, particularly in the backdrop of the recently announced interim India-US trade deal.

In a social media post, the minister said he was delighted to attend the welcome reception of Sergio Gor at the US Embassy in India. Highlighting the importance of the engagement, Goyal stated that the India-US Trade Deal will play a key role in strengthening bilateral ties between the two countries.

"Delighted to attend the welcome reception of @USAmbIndia Sergio Gor at the US Embassy in India. Confident that the India-US partnership will reach newer heights with the #IndiaUSTradeDeal," the minister noted in his post.

The interim US-India Bilateral Trade Agreement was declared on February 7 and establishes an interim framework linked to a broader Bilateral Trade Agreement (BTA) that was initiated in 2025.

Under the interim arrangement, the United States has set a reciprocal tariff rate of 18 per cent on select Indian goods. These include textiles, apparel, leather, plastics, chemicals and machinery.

The interim trade deal framework is positioned as the first step towards a comprehensive BTA. As per the framework, the US will apply a reciprocal tariff rate of 18 per cent on Indian goods.

It also outlines a clear pathway for the removal of reciprocal tariffs on a wider set of products, provided the interim trade agreement (ITA) is successfully concluded.

Beyond tariffs, the framework highlights cooperation in several key areas. Both countries have agreed to address non-tariff barriers, establish clear rules of origin, strengthen supply chain resilience and work towards ambitious digital trade rules as part of the proposed BTA.

Separately, on Monday, the minister also held a meeting with Henry Kravis, Co-Founder and Co-Executive Chairman of KKR, a global investment firm. The discussions focused on the company's journey in India and the significant opportunities for expanding investments in the country.

According to the minister, the meeting highlighted India's strong, reform-driven growth trajectory and the vast potential it offers for long-term global investors. The interaction reflected continued interest from global investment firms in India's growth story and its evolving economic landscape.

The meetings and recent developments show India's efforts to strengthen global partnerships, boost trade, and attract investments through policy certainty and sustained economic reforms.

- ANI

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Reader Comments

S
Sarah B
The focus on digital trade rules and supply chains is crucial. As someone in the tech industry, I see huge potential for Indian IT services and startups if barriers are reduced. The KKR meeting is also a good signal for FDI.
R
Rohit P
An 18% tariff on our textiles and leather? That seems quite high, yaar. While the partnership is good, we must ensure our MSMEs are not at a disadvantage. The final deal needs better terms for our key export sectors.
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Priya S
Jai Hind! Strategic partnerships like these are essential for India's rise as a global economic power. Attracting firms like KKR shows the world has confidence in our economy. Let's make the most of this opportunity.
M
Michael C
As an American working here, the clarity on rules of origin and non-tariff barriers is a welcome step. It makes doing business smoother for both sides. Hope the interim framework is implemented effectively.
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Nisha Z
Good move, but the government must also ensure this benefits the common person. Cheaper imports should not hurt our local industries. The deal should be balanced, not one-sided in favor of the US.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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