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Piyush Goyal Meets Bank of America Chief: Deepening India-US Financial Ties

Union Minister Piyush Goyal met with Bank of America's International President Bernard Mensah to discuss deepening financial cooperation between India and the US. The minister emphasized that India is not in a hurry to finalize trade deals and won't negotiate under pressure. Goyal highlighted how ongoing reforms and a conducive business environment are strengthening investor confidence in India. Both leaders explored ways to expand investment opportunities while India continues to seek fair and equitable trade agreements.

Key Points: Piyush Goyal Meets Bank of America President Bernard Mensah

  • Goyal emphasized India won't rush trade deals under external pressure
  • Discussed expanding investment opportunities between India and US
  • Highlighted ongoing reforms boosting investor confidence in India
  • Exploring new markets and stronger domestic demand impetus
3 min read

Piyush Goyal meets Bank of America's International President; discuss India-US financial cooperation

Union Minister Piyush Goyal meets Bank of America's Bernard Mensah to discuss strengthening India-US financial cooperation and expanding investment opportunities.

"We are talking to the US, but we don't do deals in a hurry - Piyush Goyal"

Berlin, October 25

Union Minister of Commerce and Industry, Piyush Goyal, on Friday met Bernard Mensah, President of International for Bank of America, and the two held talks on deepening India-US financial cooperation.

In a post on X, he said, "Met Mr. Bernard Mensah, President of International for Bank of America. Discussed ways to deepen India-US financial cooperation, expand investment and how ongoing reforms and a conducive business environment are strengthening investor confidence in India."

https://x.com/PiyushGoyal/status/1981731066336752115

Earlier in the day, he said that India will not sign any trade deal in a "hurry" as New Delhi views trade agreements as an opportunity to build deeper trust and partnerships.

He said India is exploring new markets and looking at "stronger demand impetus" domestically.

Speaking at the Berlin Global Dialogue on Friday, the Minister emphasised that India views trade agreements as an opportunity to build deeper trust and partnerships.

"India never thinks decisions in a rush or on pressure, and we've accepted that there are tariffs on us, we're looking at how to overcome that. We're looking at newer markets. We are looking at a stronger demand impetus within the Indian economy," the Minister said during a panel discussion, referring to the tariffs imposed by the US.

Speaking about the bilateral trade deal (BTA) between India and the US, the Minister stated that talks are ongoing, but India is not in a hurry to finalise the BTA under any pressure.

"We are talking to the US, but we don't do deals in a hurry," he said, adding that India doesn't do deals with deadlines or with a "gun on our head."

Earlier, in an interaction with DD, Goyal highlighted that India and the US are engaged in talks, with teams working together, and that the Commerce Secretary met US counterparts to push talks toward a fair and equitable trade deal.

Talking about the intent behind the trade deals, he added, "Trade deals are for a longer duration. Trade deals are not only about tariffs; it's not only about access to goods or services; it's also about trust, it's also about relationships. It's a demonstration to businesses that you can work between both countries and trust businesses to prosper, businesses to be protected, businesses to get opportunities and a fair deal."

- ANI

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Reader Comments

R
Rohit P
I appreciate that we're not rushing into deals. Taking time to build trust and ensure fair terms is much better than signing something quickly that might not benefit India in the long run. Good approach!
S
Sarah B
As someone working in the financial sector, I can see how these partnerships can transform our banking infrastructure. Bank of America's expertise combined with India's growth potential is a winning combination.
A
Arjun K
While I support international cooperation, I hope our government ensures that these deals actually benefit small businesses and not just large corporations. Sometimes these partnerships only help the big players.
M
Michael C
The emphasis on "stronger demand impetus within Indian economy" is crucial. We need to build our domestic markets alongside international partnerships. This balanced approach will make India truly self-reliant.
K
Kavya N
More US investment means more opportunities for our youth! Hope this leads to better financial products and services for ordinary Indians too. 🤞

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