By Admin 
Union Commerce and Industry Minister Piyush Goyal on Saturday (October 18, 2025) has given a big statement regarding the ongoing trade talks between India and America. Piyush Goyal said that talks between India and America on the proposed bilateral trade agreement are progressing in a cordial atmosphere. He also said that India is fully committed to protecting the interests of farmers, fishermen and MSMEs.
Goyal said in a press conference organized on GST Bachat Utsav, ‘There can be no agreement with the farmers of India, the fishermen, the MSME (Micro, Small and Medium Enterprises) sector of India until we completely take care of the interests of the country.’
In response to a question about the progress of talks between the two countries on the proposed agreement and when it will be completed, Goyal said, ‘The talks are going on in a cordial atmosphere.’ This comment is important because America is seeking concessions in India’s agriculture sector.
Commerce Secretary leads Indian officials in Washington
A team of Indian officials led by Commerce Secretary Rajesh Agarwal was in Washington this week for trade talks with their US counterparts. In February this year, the leaders of India and the US had asked officials to take forward negotiations on a proposed bilateral trade agreement (BTA).
He has set a deadline to complete the first phase of the agreement by October-November in 2025. So far five rounds of talks have been completed. Last month, Goyal led an official delegation to New York for trade talks.
Demand for India’s goods and services across the world- Goyal
Goyal expressed confidence that despite global challenges due to US tariffs, there will be positive growth in India’s exports. He said that during the first six months (April-September) of this financial year, growth in the country’s goods and services exports has been recorded.
It increased by about five percent to $413.3 billion during April-September of the current financial year 2025-26. During this period, India’s merchandise exports also increased by three percent to $220.12 billion. He said, ‘There is demand for our goods and services across the world and India will continue to move forward on this growth path and we are confident that there will be positive growth in the country’s exports in 2025-26.’
GST Reforms will give impetus to the country’s economy – Goyal
In response to a question, Goyal also said that reforms in GST will give impetus to the economy and help in dealing with the impact of global challenges. Referring to the benefits of the recent cut in GST rates, he said, ‘As soon as GST was announced, investors immediately realized that this is a big benefit. There will be a huge increase in demand.
Asked whether some e-commerce companies have not passed on the benefits of the GST cut to consumers, the minister said that generally all companies have passed on the benefits and have also announced cash bonuses and discounts.
Goyal said, ‘But if any site or platform has not provided benefits, then the consumer can complain and the consumer affairs department will take necessary action on it. All industries and companies have assured me that the entire benefit will be passed on to the consumers.
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