Commerce and Industry Minister Piyush Goyal said “you will hear a good news” on the proposed trade pact between India and the US once the deal is fair, equitable and balanced as per a report by PTI.
India and the US are negotiating the proposed bilateral trade agreement since March. So far six rounds of negotiations have been completed. The trade talks are facing several roadblocks as the US is reportedly demanding access to India’s agriculture, dairy, and GM crops.
India will protect farmers and fishermen in trade deal, says Goyal
According to PTI, Goyal said that India will also protect the interests of farmers and fishermen in the agreement. Negotiation for a trade agreement is a process and India as a nation has to see the interests of farmers, fishermen and small industry, he said at the Indo-US Economic Summit, organised by Indo-American Chamber of Commerce. “When the deal will become fair, equitable and balanced, you will hear good news,” Goyal said.
US LPG deal announced amid stalled trade talks
Important to note His statement comes a day after Union Minister for Petroleum and Natural Gas Hardeep Singh Puri announced that Indian public sector oil companies- IOC, BPCL, and HPCL- have signed a one-year deal to import liquefied petroleum gas (LPG) from the United States. India’s reliance on Russian oil was another roadblock, because of which Trump also imposed an additional 25% tariff on India, taking the total to 50%.
