NEW DELHI: Union Commerce and Industry Minister Piyush Goyal on Thursday said that the first tranche of the India-US trade deal is expected to be finalised by November.
He explained that discussions between the two countries are moving in a positive direction and both sides are satisfied with the progress so far.
Speaking to reporters in poll-bound Bihar, Goyal recalled that in February, Prime Minister Narendra Modi and US President Donald Trump had instructed their ministers to work on the pact and finalise the first tranche by November this year.
"In February, Prime Minister Narendra Modi and President Trump together instructed us that the ministers of both sides should make a good agreement by November, ” Goyal said.
“The first part of that agreement, the first tranche, should be finalised by November 2025, and since March, discussions have been going on on this subject very seriously in a very good environment, progress is being made, and with the progress, both sides are satisfied, " Goyal added.
His remarks came a day after PM Modi and President Trump had a friendly exchange on social media.
Trump, writing on his platform Truth Social, said he was pleased with the ongoing talks and was confident that both nations would reach a successful conclusion.
“I am pleased to announce that India, and the United States of America, are continuing negotiations to address the Trade Barriers between our two Nations, " Trump added.
He also mentioned that he looks forward to speaking with his “very good friend” Prime Minister Modi in the coming weeks.