Editor - Pawan Kumar Gupta
New Delhi
No Hiatus in Relations with US, India To Sign Fair Trade Deal: Commerce Minister Shri Piyush Goyal
India's Partnership with US Continues to Grow, Trade Deal will Secure National Interest: Goyal
New Delhi, November 18, 2025: Terming the India India-US bilateral relations as very important and strategic, Union Minister for Commerce and Industry Shri Piyush Goyal said that there is no pause or hiatus in the bilateral relations and the partnership is enduring and growing.
Speaking at the IACC 22nd Indo-US Economic Summit organized by Indo-America Chamber of Commerce (IACC), Mr Goyal also said that as negotiations with the US are underway for a bilateral trade agreement, India would look at securing its national interest and agree on a fair and balanced deal.
“I don’t see any reason to be very worried. I don’t believe there is any hiatus in the relationship. It continues to be very important, very strategic for both the country, the United States and India,” he said.
He also highlighted the 10-year defence signed between both the countries and the recently announced contract to source LPG from the US.
Mr Goyal said that a comprehensive partnership which India has with the US has many elements. “A partnership which is as comprehensive as the Indo-US relationship has many elements and every element need not run at the same speed. Negotiations is a process and India as a nation has to secure its interest, has to secure the interest of our stakeholders, businesses and balance it with our sensitivities, with the farmers, with the fishermen, with the small industry. As and when we find the right balance, you can rest assured we will get outcomes.”
“But the friendship is very enduring and the partnership is ever growing. So, we need not be worried. We stand on very strong pillars of democracy, very strong pillars of diversity and a very strong pillar of a shared commitment to development. The story of India-US relationship can be described as that of two trusted partners working for the shared prosperity, not only of both countries but of the entire world.”
On the much-anticipated trade deal between the two countries, he assured the industry and participants of the India-US Economic Summit that both the countries are committed on expanding trade relations.
Emphasizing on the robustness of the bilateral ties with the US, the minister said: “Just like the rest of the world, the US also shares a strong bond with India. They see India as a trusted partner. We are both equally committed to working, to expand trade and commerce between the two countries and when the deal becomes fair, equitable, balanced, you will hear good news.”
Describing India as a major investment hub, he said the return on investments in the country is very high and several global players have benefitted from investing in the country over the years with multi-fold returns. On India’s growing exports Mr Goyal exuded confidence that the growth trajectory of exports from India would continue and exports in FY26 would surpass the levels achieved in the last financial year.
Addressing the event themed ‘Shaping a Shared Future: India–US Collaboration for Global Resilience’, Mr Aseem Arun, Minister of State (Independent Charge) for Social Welfare & SCs/STs Welfare in the Government of Uttar Pradesh, emphasized on the need for collaboration to ensure social justice and economic equality along with growth in business partnerships.
“The partnership between the two countries should be more than just about market access. It must also be about shared human problems. Today, India stands as the fourth largest economy in the world. But our model to high growth is unwavering because, this growth is inclusive,” he said.
Mr. Awanish Awasthi, Chief Advisor to the Chief Minister, Government of Uttar Pradesh noted that the state is in the forefront of the ‘Vikshit Bharat’ (Developed India) campaign.
“An immediate target of $1 trillion (GDP) has been set for our state. We are already at around one-third of a trillion, or almost about 40% of our target, and in the next two years, we will reach almost 60 to 70% of our target. We hope to achieve our $1 trillion target by 2029,” he said, while adding that the state has laid down 10 different pillars including agriculture, urban development, industry & MSME, IT, services sectors and tourism.
Mr. Pranjal Yadav, IAS Secretary for MSME and Industries, Government of Uttar Pradesh noted that Uttar Pradesh has become one of India's fastest-growing industrial hubs backed by policy reforms and resultant investor confidence.
“Uttar Pradesh is now the fourth-largest economy, and our exports have grown in the last 8-9 years. So, the state has an immensely built-in industrial sector. In infrastructure, we have so many expressways in our state, and new expressways are being added every year,” Mr Yadav said.
Dr. Lalit Bhasin, Summit Chair & National Past President, IACC & Managing Partner, Bhasin & Co Advocates highlighted the significance of Indo-US ties and expressed hope that the 22nd summit would help in further strengthening and deepening the relationship across sectors.
Addressing the summit, Atul Chauhan, Summit Co-Chair, Executive Council Member, IACC & Chancellor, Amity University noted that the bilateral ties between India and the US does not only have impact on both the countries, but has a larger impact globally.“The India-US relationship has a great impact. It has great importance, not just for our two nations, but for the larger geopolitical landscape,” he said.
Other speakers in the session were Mr. Prashant Krishnan, Executive Vice President, IACC & Founder, STRONICS, Dr. Upasana Arora, Executive Vice President, IACC & Managing Director, Yashoda SS Hospitals and Ms. Pia Singh, Regional Vice President, IACC- NIC & Chairperson, DLF Foundation.
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