During the 14th ministerial conference of the World Trade Organization (WTO) in New Delhi, Indian Commerce Minister Piyush Goyal reiterated India's desire for preferential market access in the United States, highlighting the strong strategic partnership between the two nations. Goyal noted that the US has imposed a 10% tariff on imports from all countries following a Supreme Court ruling that eliminated preferential treatment. This has created uncertainty around an interim trade agreement finalized on February 2, which aimed to reduce tariffs on Indian goods from 50% to 18%.

The WTO conference addressed significant global trade issues, including reforms, fisheries subsidies, and e-commerce. Goyal emphasized India's commitment to sustainable fishing practices and the need for a permanent solution on public stockholding for food security. He also acknowledged concerns raised by global leaders regarding the ongoing US-Iran war, which has adversely affected global trade and economic stability. Goyal reassured that India remains resilient, maintaining stable supplies of LPG and industrial LNG, with refineries operating at full capacity.