Piyush Goyal highlights strengthening Indo-US trade ties at the 22nd Indo-US Economic Summit, announcing a long-term LNG import pact and reaffirming efforts toward a fair, balanced trade agreement.

Commerce and Industry Minister Piyush Goyal reaffirmed India and the United States’ strong commitment to expanding bilateral trade, stating that “good news” may soon follow once both nations finalize a fair, equitable and balanced trade agreement. Goyal was speaking at the 22nd Indo-US Economic Summit, hosted by the Indo-American Chamber of Commerce.

India Prioritising Domestic Interests in Trade Talks

Emphasizing the need for a well-calibrated approach, Goyal said trade negotiations must protect India’s national priorities.
“Negotiation is a process, and India has to safeguard the interests of its businesses, farmers, fishermen, and small industries,” he noted. He added that once the right balance is achieved, a positive outcome will certainly emerge.

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Long-Term LNG Import Pact Strengthens Economic Cooperation

Highlighting growing economic ties, Goyal cited the signing of a long-term contract to import 2.2 million tonnes of LNG annually from the US, calling it a strong reflection of trust and partnership.

“They see India as a trusted partner. Both countries are equally committed to expanding trade and commerce. Once the agreement becomes fair and balanced, you will hear good news,” Goyal added.

Talks Resume After Tariff-Related Break

His remarks come shortly after India and the US resumed formal trade discussions. Negotiations had been on hold for nearly 1.5 months following Washington’s decision to impose 50% tariffs on select Indian imports.