'False, baseless': Piyush Goyal pushes back on India-US trade deal claims

Commerce and Industry Minister Piyush Goyal on Monday rejected reports claiming India had refused to move ahead with a trade agreement with the United States, calling them "completely false, baseless and misleading."

In a post on X, Goyal said he had "fantastic meetings" with US Trade Representative (USTR) Jamieson Greer during the latter's visit to New Delhi in June and stressed that negotiations remain on track.



"This news is completely false, baseless and misleading.

I had fantastic meetings with USTR Jamieson Greer when he visited Delhi in June. Both sides reaffirmed their commitment to an agreement that is balanced, commercially meaningful, and delivers tangible benefits for businesses, farmers, workers, and consumers in both countries.

Our teams remain fully engaged in achieving this objective," Goyal wrote.

His remarks came in response to reports citing unnamed officials that India had rejected a quick interim trade agreement with the US and was holding out for better terms after negotiations last month failed to produce a deal.

Separately, Trade Secretary Rajesh Agarwal also sought to reassure markets, saying India was progressing well on the proposed bilateral trade agreement with the US and did not see any challenges in the negotiations.

Reports had cited differences over tariffs
Earlier reports had said India was unwilling to rush into an agreement without assurances on key demands, including preferential tariff treatment over competitors such as China and protection from future US tariff hikes. They also claimed New Delhi was not prepared to compromise on sensitive sectors such as agriculture.

The reports said the two sides were unable to conclude an interim agreement during Greer's visit to New Delhi in June despite several rounds of negotiations.

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Talks continue
India and the US have been negotiating a bilateral trade agreement for months as both countries seek to expand trade and investment ties. The negotiations are taking place against the backdrop of possible new US tariffs expected later this month.

While differences remain on issues such as tariffs and market access, Goyal's statement and Agarwal's comments indicate that both governments continue to engage with the aim of reaching a balanced and commercially meaningful agreement.