Piyush Goyal Optimistic About India-US Trade Agreement Amid Section 301 Concerns
Why Piyush Goyal believes the US Section 301 move could work in India's favour

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Commerce and Industry Minister Piyush Goyal expressed confidence in finalizing an interim trade agreement with the US, despite proposed tariffs under Section 301. He emphasized India's commitment to protecting its interests while expanding global trade partnerships and addressing domestic manufacturing challenges.
- 01US Trade Representative Jamieson Greer is set to visit India for discussions on the interim trade agreement.
- 02Goyal reassured that India would protect its interests amid proposed US tariffs of 12.5% under Section 301.
- 03India has signed nine bilateral trade agreements in the last three-and-a-half years with various economies.
- 04Goyal stated that India remains open to Chinese investments in targeted sectors but not for opportunistic asset acquisitions.
- 05India aims to achieve a target of $2 trillion in exports by 2030-31.
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Commerce and Industry Minister Piyush Goyal announced that US Trade Representative Jamieson Greer is expected to visit India soon to finalize discussions on an interim trade agreement. Goyal expressed optimism about securing a beneficial deal despite concerns over proposed US tariffs under Section 301 of the US Trade Act, which could impose a 12.5% tariff on Indian imports. He emphasized India's commitment to safeguarding its interests in negotiations. Goyal highlighted India's recent trade engagement strategy, noting the conclusion of nine bilateral agreements with advanced economies. He also addressed investment flows from China, stating that India is open to investments in desirable sectors while ensuring they do not lead to opportunistic acquisitions. Furthermore, Goyal ruled out any reconsideration of India's absence from the Regional Comprehensive Economic Partnership, citing the need for stronger domestic manufacturing capabilities. He also mentioned potential adjustments to the Comprehensive Economic and Trade Agreement with the UK due to new steel import restrictions. Goyal called for Indian businesses to expand internationally, aiming for $1 trillion in exports in the current financial year.
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The trade agreement with the US could enhance India's economic ties and open new markets for Indian exports.
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