Union Commerce Minister Piyush Goyal stated on Wednesday that the relationship between India and the United States is ‘very good,’ despite ongoing trade tensions. His comments were made during the New Economy Forum in New Delhi, organised by Bloomberg Media Group. Goyal addressed concerns regarding whether India’s relationship with the US would improve with a change in administration, asserting, “I don’t see any problem as we speak.”

Goyal emphasised the significance of the India-US partnership, describing it as ‘very substantive’ and ‘consequential for the world,’ given that both nations are large democracies. These remarks come in the context of protracted negotiations for a trade deal, which have faced challenges following former President Donald Trump’s imposition of tariffs that strained bilateral relations.

Relations between the two countries have been further complicated by Trump’s comments regarding India’s brief military conflict with Pakistan last year, which were seen as breaching diplomatic norms. The recent suspension of several major Indian IT services firms from a longstanding immigration initiative has also contributed to tensions, as part of a crackdown on alleged abuses of the H-1B visa system.

Ongoing Trade Negotiations

India and the US have been engaged in discussions since early 2025 regarding a proposed trade agreement aimed at addressing tariff issues, eliminating non-tariff barriers, and enhancing market access for both countries. India is seeking more favourable tariff conditions for its goods in the US market compared to its competitors.

Earlier this month, US Trade Representative Jamieson Greer indicated that while the two nations are working towards finalising a bilateral trade deal, an agreement is not expected to be reached imminently. He noted that both sides have identified unresolved issues and are actively working towards a resolution.

In response to concerns about the trajectory of India-US relations, Goyal reassured that the partnership is ‘very, very consequential’ and is expected to improve regardless of political changes in either country. He highlighted ongoing engagements in various sectors, including defence and technology, as evidence of the strong ties between the nations.

India’s Position on China Relations

Minister Goyal also addressed India’s approach towards China, stating that the country is looking to revive its relationship with its neighbour. He remarked that “the last word has not yet been scripted on this journey,” indicating a cautious optimism following a deadly border clash in 2020 that led to significant restrictions on Chinese companies operating in India.

Goyal expressed India’s openness to engaging with all nations, provided that fair deals are negotiated and continuity in engagement is ensured. He emphasised that India’s geopolitical stance would remain stable as long as the situation does not deteriorate further.

External Affairs Minister S. Jaishankar also provided an update on the trade negotiations, stating that India and the United States are actively working to resolve differences and are approaching a ‘landing point’ in discussions. He reiterated that the core fundamentals of the bilateral strategic partnership remain unchanged, despite challenges in the negotiation process.

Jaishankar’s comments came shortly after Finance Minister Nirmala Sitharaman remarked that discussions on the trade deal had reached a ‘plateau.’ He noted that while progress is being made, specific details of the negotiations would not be disclosed publicly at this time, indicating a cautious but hopeful outlook for future agreements.

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