India in Active Talks for Global Trade Deals: Minister Piyush Goyal

India is engaging in active discussions with the United States for a prospective free trade agreement, according to Commerce and Industry Minister Piyush Goyal. These talks are part of India's broader strategy to enhance trade ties globally, which includes ongoing negotiations with the European Union and New Zealand.

Minister Goyal highlighted that India has already secured trade deals with Mauritius, the EFTA bloc, the UK, UAE, and Australia. A second stage of agreements with Australia is underway, and future announcements are expected with Oman. Goyal and Australian Trade Minister Don Farrell are collaboratively advancing these discussions.

A notable hurdle remains the high import tariff imposed by the US on Indian goods since August 27, affecting sectors like textiles and footwear. Bilateral negotiations with the US have seen five successful rounds, with a sixth postponed. Both nations aim to finalize a trade pact by 2025, boosting their position as significant trading partners.

(With inputs from agencies.)