EAM Jaishankar on India-US Trade Deal

The visit coincides with an agreement on a trade deal between the world’s two largest democracies. A detailed statement of the negotiations is currently underway and both sides are expected to issue a joint statement on the precise principles soon, the minister said.

Speaking to ANI on the sidelines of the meeting, Jaishankar said, “It was not about me, because this issue is being taken up by Commerce and Industry Minister Piyush Goyal. The Prime Minister and the US President had a meeting; some announcements came out of it. Later, as we spoke, the elaboration of trade talks is going on.”

He added that Commerce Minister Piyush Goyal may provide a timeline for the official announcement. “It’s hard for me to say, and the Secretary of Commerce knows better because he’s in direct contact with the U.S. Trade Representative,” he said.

Speaking in Parliament earlier, Piyush Goyal said that both countries have finalized various areas of the bilateral trade agreement after intense negotiations. He informed the House of Representatives that both parties will now complete the technical processes and paperwork to unlock the deal’s potential.

Goyal described the framework as an important step in strengthening bilateral relations and advancing the vision of a developed India by 2047. Goyal added that the 18 percent rate announced by US President Donald Trump is lower than the customs duties imposed on many rival countries and increases India’s competitiveness in exports.

He said negotiating teams from both countries met last year to reach a balanced and mutually beneficial agreement while protecting critical and sensitive sectors. The Minister emphasized that India’s agriculture and dairy sectors continue to be protected under the framework.

“The US side also had sensitive areas from its perspective. After many rounds of talks for almost a year, the two negotiating teams managed to significantly narrow their differences and finalize various areas of the bilateral trade agreement,” Goyal said.

Meanwhile, Jaishankar also underlined the importance of the Critical Minerals ministerial meeting. “It was a very good discussion. Critical minerals are a very important issue. The USA has been partnering for several years. Today, they launched a new initiative called FORGE, which is a continuation of the Mine Safety Partnership, which we also support. Overall, it was a productive and result-oriented meeting and this was the main reason why I came,” he said.

In his speech, Jaishankar warned that “over-concentration” in critical mineral supply chains poses a major global risk and called for structured international cooperation to “mitigate” these risks as India deepens its engagement with the US-led strategic minerals framework.