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India is making “fantastic progress” in its trade deal talks with the US, Commerce Minister Piyush Goyal has said.<\/p>\n
The minister made the comments in London, after signing a landmark free trade deal<\/a> with the UK on Thursday.<\/p>\n Goyal’s optimistic statement comes against the backdrop of Washington and Delhi missing several deadlines to finalise the deal.<\/p>\n US President Donald Trump has set 1 August as the deadline for several countries, including India, to sign a trade deal or face steep tariffs.<\/p>\n<\/div>\n Trump had first announced 26% tariffs on Indian goods on 2 April as part of a wider trade policy move. While the tariffs were initially paused until 9 July, the US later extended the deadline to 1 August.<\/p>\n Indian delegations have made multiple trips to the US to finalise details of the deal.<\/p>\n Last week, Trump seemed equally optimistic, saying that Washington and Delhi were “very close” to finalising<\/a> an interim trade agreement. The two countries aim to reach a bilateral deal by the end of this year.<\/p>\n Speaking to Reuters news agency on Thursday, Goyal said<\/a> that India was making “fantastic progress” in trade deal talks with the US. <\/p>\n “I do hope we’ll be able to conclude a very consequential partnership,” he added.<\/p>\n When asked about India’s main sticking point – lower tariffs on agriculture and dairy products – Goyal said that “negotiations happen in the negotiation room.” However, he added that India might still pursue a comprehensive deal if smaller sectoral agreements can be achieved, according to Reuters.<\/p>\n