Piyush Goyal, US trade envoy Greer discuss early conclusion of India-US interim trade deal

New Delhi: Commerce and industry minister Piyush Goyal said he had a "productive discussion" with US trade representative Jamieson Greer towards early conclusion of a mutually beneficial interim trade agreement between India and the US.

They met Wednesday on the sidelines of the G20 trade ministers' meeting in Milwaukee, the same day when Prime Minister Narendra Modi and US President Donald Trump held a telephone conversation to review the progress in bilateral cooperation across trade, defence, energy, critical technologies and other areas of mutual interest.

"Had a productive discussion with USTR Greer towards early conclusion of a mutually beneficial interim agreement under the India-US Bilateral Trade Agreement. We also exchanged views on G20 deliberations under US Chairship," Goyal wrote in a social media post. The minister is visiting the US from September 29 to October 5 to attend the G20 trade ministers' meeting and hold deliberations with Greer on the bilateral trade agreement.


Speaking at a session on 'Weaponization of Food through Coercive Trade Action' during the G20 trade ministers' meeting, Goyal highlighted that the shared objective must be to ensure that food remains a source of security, stability and cooperation. "Also, underlined that we must clearly distinguish between the weaponisation of food supply chains and legitimate measures adopted by countries to pursue domestic policy objectives and address food-security needs," Goyal said in another social media post.

India maintains public stockholding, procures from small and marginal farmers and, in the event of a harvest shortfall, adopts temporary and transparent measures to ensure the availability and affordability of food, the minister said. He called for a clear distinction between measures taken to ensure food security and coercive trade actions and reaffirmed India's commitment to a rules-based, fair, non-discriminatory, equitable, transparent, open, inclusive and multilateral trading system, with the WTO at its core. "The ministers reached consensus on the outcome document, 'G20 Statement on the Weaponization of Food Through Coercive Trade Actions', and expressed their intent to continue cooperation on the subject," the commerce and industry ministry said in a news release.

Meet with Sefcovic

The minister met European Trade Commissioner Maros Sefcovic on the sidelines of the trade ministers' meeting, wherein they reviewed the progress towards the signing and entry into force of the India-EU free trade agreement and exchanged views on progress under the India-EU Trade and Technology Council, WTO reforms and shared G20 priorities. The two sides concluded the FTA in January this year, almost two decades after launching the initial negotiations in 2007.