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Union Minister for Commerce and Industry Piyush Goyal on Tuesday expressed confidence that the India-US partnership will scale new heights in the coming period, particularly in the backdrop of the recently announced interim India-US trade deal.
In a social media post, the minister said he was delighted to attend the welcome reception of Sergio Gor at the US Embassy in India. Highlighting the importance of the engagement, Goyal stated that the India-US Trade Deal will play a key role in strengthening bilateral ties between the two countries. "Delighted to attend the welcome reception of @USAmbIndia Sergio Gor at the US Embassy in India. Confident that the India-US partnership will reach newer heights with the #IndiaUSTradeDeal," the minister noted in his post. The interim US-India Bilateral Trade Agreement was declared on February 7 and establishes an interim framework linked to a broader Bilateral Trade Agreement (BTA) that was initiated in 2025. Under the interim arrangement, the United States has set a reciprocal tariff rate of 18 per cent on select Indian goods. These include textiles, apparel, leather, plastics, chemicals and machinery. The interim trade deal framework is positioned as the first step towards a comprehensive BTA. As per the framework, the US will apply a reciprocal tariff rate of 18 per cent on Indian goods. It also outlines a clear pathway for the removal of reciprocal tariffs on a wider set of products, provided the interim trade agreement (ITA) is successfully concluded. Beyond tariffs, the framework highlights cooperation in several key areas. Both countries have agreed to address non-tariff barriers, establish clear rules of origin, strengthen supply chain resilience and work towards ambitious digital trade rules as part of the proposed BTA. Separately, on Monday, the minister also held a meeting with Henry Kravis, Co-Founder and Co-Executive Chairman of KKR, a global investment firm. The discussions focused on the company's journey in India and the significant opportunities for expanding investments in the country. According to the minister, the meeting highlighted India's strong, reform-driven growth trajectory and the vast potential it offers for long-term global investors. The interaction reflected continued interest from global investment firms in India's growth story and its evolving economic landscape. The meetings and recent developments show India's efforts to strengthen global partnerships, boost trade, and attract investments through policy certainty and sustained economic reforms. (ANI)
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