India will not finalize a trade agreement with the United States unless it delivers a clear competitive advantage for the country, India’s Commerce and Industry Minister Piyush Goyal said during a visit to the United Kingdom.
Speaking at an event in London, Goyal stressed that any free trade agreement (FTA) must provide tangible economic benefits for India rather than simply expanding market access.
“An FTA is basically about getting a comparative advantage over your competitors,” Goyal said, emphasizing that India will only move forward with a deal if it strengthens the country’s position in global trade.
His remarks come as India and the United States continue negotiations aimed at reaching the first phase of a bilateral trade agreement. Both countries have been working to resolve differences over tariffs, market access and sector-specific trade barriers before the expiry of temporary U.S. tariff measures.
Goyal indicated that New Delhi remains committed to securing trade agreements that advance India’s long-term economic interests and improve the competitiveness of Indian businesses in international markets.
The commerce minister is currently in the UK ahead of the implementation of the India-United Kingdom Free Trade Agreement, scheduled to come into effect next month. His visit includes discussions on strengthening bilateral trade and investment ties.
India has accelerated negotiations on multiple trade agreements in recent years as part of its strategy to expand exports, diversify supply chains and position itself as a global manufacturing hub.
Goyal’s comments signal that while talks with Washington are progressing, New Delhi is unlikely to compromise on key issues unless the final agreement provides India with meaningful economic and strategic gains.
