India-US interim trade deal close, Piyush Goyal tells business leaders in New York

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New York, May 29

Commerce and Industry Minister Piyush Goyal on Thursday said India and the United States are close to finalizing an interim trade agreement during interactions with leading business figures in New York.

Speaking at a closed door roundtable hosted by the Consulate General of India in New York in collaboration with the US India Strategic Partnership Forum, Goyal discussed expanding bilateral trade, investment, innovation, and supply chain partnership between the two countries.

According to the US-India Strategic Partnership Forum, Piyush  Goyal  shared an encouraging update on the ongoing trade negotiations and assured industry representatives that an interim agreement was nearing completion. The meeting was attended by more than 50 business and industry leaders.

In a post on X, Goyal said he highlighted India’s strong economic growth, reforms focused business environment, and increasing opportunities for global investors under the leadership of Prime Minister Narendra Modi.

The minister also stressed the importance of investor confidence, policy stability, and a predictable regulatory framework in strengthening economic ties between India and the United States.

A delegation from the United States is scheduled to visit India from June 1 to June 4 for further discussions aimed at finalizing the interim trade pact. The talks are also expected to cover broader issues under the proposed bilateral trade agreement, including market access, non tariff barriers, and customs facilitation.

During his visit, Goyal held separate meetings with senior executives from major global companies to discuss investment opportunities across sectors in India.

In discussions with Morgan Stanley Chairman and Chief Executive Officer Ted Pick, Goyal explored opportunities for long term investments and institutional partnerships in India.

He also met Warburg Pincus Chairman Chip Kaye to discuss the global investment climate and India’s growing role as a destination for innovation and economic growth.

Goyal met with Amneal Pharmaceuticals Co-Founder and Co-Chief Executive Officer Chintu Patel to discuss investment opportunities in India’s pharmaceutical sector and potential collaborations in innovation.

In a separate meeting with Mastercard Chief Executive Officer Michael Miebach, the minister discussed cooperation in digital commerce, digital security, and advanced payment systems. He said the discussions focused on India’s expanding digital economy and the country’s emergence as a major fintech innovation hub.

Earlier this week, Goyal led a business delegation to Canada to promote investments, strengthen business partnerships, and advance discussions on the proposed India-Canada free trade agreement.