Commerce and Industry Minister Piyush Goyal said India would secure one of its best trade agreements with the United States, citing favourable negotiating outcomes and preferential market access for Indian exporters.

Speaking to reporters in Visakhapatnam on November 12, Goyal said India had negotiated a strong set of outcomes and expected the agreement to benefit Indian businesses.

He said Indian exporters would receive preferential access to the US market compared with competing countries producing similar goods and operating at comparable levels of economic development.

India and the United States finalised a framework for the first phase of their bilateral trade agreement in February 2026. However, changes in the US tariff structure have required both governments to continue discussions on the terms of the agreement.

Goyal said negotiations were ongoing and did not announce a timeline for concluding the deal.

The proposed agreement is intended to expand bilateral trade and improve market access for goods from both countries. Discussions have covered tariffs, agricultural products, industrial goods and other trade-related issues.

India has been seeking improved access for its exports to the US, one of its largest trading partners. Key Indian export categories include pharmaceuticals, engineering goods, textiles, gems and jewellery, and electronics.

The government has maintained that the interests of domestic industries and farmers will be considered during negotiations. Goyal has previously said India would not compromise the interests of farmers and other stakeholders to secure an agreement.

The minister’s latest comments indicate that New Delhi expects the final arrangement to provide Indian exporters with competitive access to the American market.

Both countries continue to negotiate the first phase of the bilateral trade agreement, with outstanding issues still under discussion.