Union Minister Piyush Goyal said- ‘India-America relations are very strong and multidimensional,

Updated: 07-03-2026, 05.18 PM

Commerce and Industry Minister Piyush Goyal said on Saturday that India has secured the best trade deal with the US compared to its competitor countries. He stressed that the two countries share an “extremely powerful” relationship. Piyush Goyal said there is a new confidence in India that we can engage with the rest of the world with self-respect and still keep our own interests in mind.

Goyal said that America is the world’s largest economy worth 30 trillion dollars and no one can ignore it. In Raisina Samvad 2026, he said that our relations are excellent and President Trump has always said complimentary things about India and Prime Minister Modi.

India-US relations are multidimensional

Industry Minister Piyush Goyal clarified that India-US relations are strong and multidimensional, in which technology, critical minerals, defense and large investment play a key role along with trade. These comments are important because both the countries have finalized the outline of the first phase of the bilateral trade agreement. Under this, America had announced to reduce the retaliatory duty on India to 18 percent. However, after the US Supreme Court repealed it, President Trump has imposed 10 percent duty on all countries for 150 days from February 24. Due to this, the meeting of the chief negotiators is currently postponed.

American agricultural products will be cheaper in India

Under the agreement, India will reduce tariffs on American industrial and agricultural products. India has also expressed its intention to purchase $500 billion from America including energy products, aircraft, technology and coking coal in the next five years. On the nine free trade agreements (FTAs) signed by the Narendra Modi government, Goyal said the government has protected national interests and there has been no compromise with the interests of any stakeholder. Responding to the opposition’s allegations, he said that opening up the auto sector in these agreements will provide choices to consumers and create employment opportunities. He argued that foreign auto companies could initially export cars to test the market, but would eventually have to produce them in India as expensive European models would find it difficult to compete with Indian companies.