Good news on India-US trade deal soon: Goyal

NEW DELHI: Commerce and Industry Minister Piyush Goyal on Tuesday said “you will hear a good news” on the proposed trade pact between India and the US once the deal is fair, equitable and balanced.

He said India will also protect the interests of farmers and fishermen in the agreement.

Negotiation for a trade agreement is a process and India as a nation has to secure the interests of farmers, fishermen and small industry, he said at the Indo-US Economic Summit, organised by Indo-American Chamber of Commerce here.

“...when we find the right balance, rest assured we will get outcomes on this...When the deal will become fair, equitable and balanced, you will hear good news, “Goyal said. India and the US have been negotiating the proposed bilateral trade agreement since March. So far six rounds of negotiations have been completed.

Goyal added there is no reason to be worried about the bilateral relations between the two

countries.

“Parivaar mein kabhee kabhee thodee bohot nok-jhok toh hotee rahatee hai (sometimes there is a bit of bickering in the family also),” he said, adding, “I do not believe there is any hiatus in the relationship. It continues to be very very important, very strategic for both countries.” Goyal also hinted that the LPG import deal with the US may be a multi-year

agreement, saying the friendship between the two nations is enduring and partnership ever growing.

“In fact we just signed a major LPG agreement for importing over a long period of time every year 2.2 million tonnes per annum of LPG. So it is an ongoing process. We both (India and the US) are equally committed to expand trade and commerce between the two countries,” he added.