US-India trade deal soon? Piyush Goyal hints early agreement at key bilateral forum

India is rey to sign a limited tre deal with United States even 'tomorrow' as  whole pack is nearly rey and can be finalised at any time, Union Commerce Minister Piyush Goyal said on Tuesday, in a big mission just two months before Americans he to a hotly contested presidential poll.

Speaking at  US-India Strategic Partnership Forum's 3rd Annual Leership Summit, Goyal indicated New Delhi's willingness to seal a limited tre deal with Washington before or after vember 3 presidential election. 

ting that re were pending issues to solve and finalise in February during Trump's India visit, Goyal said that disruption caused due to COVID-19 pandemic led to loss of 'valuable time'. He asserted that any deal right w can be 'foundational' in nature that will help a comprehensive tre deal in future.

"I spoke with Ambassor Lighthizer (US Tre Representative). We agree that we can look at doing it (signing a tre deal) before elections also or soon after. entire pack is near rey and can be finalised at any time when local political situation in US permits m to. I'm open to signing up ( deal) tomorrow," Commerce Minister said.

Moreover, he asserted such a tre deal will be a 'win-win situation' for both India and  US. "It is in interest of India and  US to deepen our strategic partnership with this tre deal. It will open doors to starting a dialogue on a larger bilateral engment and I do hope we can move to next st of larger engment for a free tre agreement," minister said.

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Significance of New Delhi's signals

Goyal's remarks hold significance as President Donald Trump faces a tight race with his Democratic rival Joe Biden and his craving to show success to an electorate — fatigued with worst Coronavirus outbreak in world, deep recession, massive unemployment, and raging social unrest — rests on touting any success on tre front. Trump has championed 'fair and reciprocal' matra in international tre and has threatened to slap tariffs to countries he feels 'take vant of US'.

Among many issues like security and China that put New Delhi and Washington on a parallel, tre in a slant. Trump ministration has withdrawn tre preferences that India has for deces used to boost exports to large American market. India enjoys a tre surplus with US, a point of contention for Trump who has accused New Delhi of imposing high tariffs on American imports.

US has so far signed a 'limited tre deal' with China and a more comprehensive one with countries like Japan, Cana, and Mexico.

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