Union Minister of Commerce & Industry Piyush Goyal. File
| Photo Credit: ANI
“The U.S. and India announced in February that they had reached a framework for an interim trade agreement, but circumstances have changed, and the pact will be finalised accordingly,” Commerce and Industry Minister Piyush Goyal said on Saturday (October 10, 2026).
He also said trade pact negotiations are on with number of regions including Israel, Chile, GCC (Gulf Cooperation Council) and Russia-led group Eurasian Economic Union (EAEU).
“USA (trade pact) February me announce hua. Thodi paristhitiyan badli hain, usko abhi madde nazar rakhte hue final hoga. (It was announced in February. Some circumstances have changed; the final decision will be made keeping that in mind),” Mr. Goyal said in New Delhi while addressing members of industry chamber PHDCCI.
India is seeking lower tariffs for its goods than its competitors in the American markets. The Minister did not elaborate about those circumstances, but the changing tariff landscape in the U.S. has led to further negotiations about the first phase of bilateral trade agreement (BTA) between India and the U.S.
Mr. Goyal earlier this month met U.S. Trade Representative Jamieson Greer on the sidelines of G20 trade Ministers meeting in Milwaukee. Both discussed trade pact-related issues.
Further, the Minister said that negotiations for a trade pact with Canada are moving at a faster pace and talks for an agreement with South Africa-led SACU group will start soon.
Several countries are keen to negotiate trade agreements with India, he said adding talks with Mexico will be launched next week. Mr. Goyal informed that the trade Ministers of the U.K. and Canada will be visiting India next week. India and the U.K. implemented a trade agreement in July. The U.K. Minister will be here for the India-U.K. Joint Economic and Trade Committee (JETCO) meeting.
Piyush Goyal criticises Opposition
The Union Minister slams Congress leader Rahul Gandhi for his claims and statements after meeting President Droupadi Murmu.
“It was an objectionable behaviour … He has insulted the President … This is a sense of anarchy,” Mr. Goyal said, adding that the Opposition leaders have misbehaved with security personnel.
A delegation of INDIA bloc leaders met President Murmu on Friday evening (October 9, 2026) and handed her a memorandum on the alleged “vote chori“.
After the meeting, Mr. Gandhi said he was shocked and stunned that the President did not deny the “election theft” charge and “accepted” what the Opposition leaders stated.
Published – October 10, 2026 10:04 pm IST
