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Union Minister Piyush Goyal
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Commerce and Industry Minister Piyush Goyal discussed global opportunities for exporters, including ones flowing from the free trade agreement (FTA) finalised with the UK and the pacts being negotiated with the US and the EU, in a meeting with export promotion councils on Tuesday, sources said.
“Met representatives of all export promotion councils (EPCs) & industry associations and discussed emerging global opportunities for India,” Goyal posted on social media platform ‘X’ following the meeting.
Also, encouraged them to create a facility that makes Indian exporters easily discoverable by overseas buyers to further boost our country’s exports, he added.
The Minister is just back from the US where he met his counterparts, US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer, on the proposed India-US bilateral trade deal and the interim trade pact.
While the first tranche of the “mutually beneficial” BTA is to be delivered by Fall of 2025 (September-October), the two are aiming to strike an early deal in limited areas before July 7, when the 90-day reciprocal tariff pause period ends.
As all countries, including competitors such as Vietnam and Bangladesh, have been hit by US reciprocal tariffs, which are to be fully implemented on July 8, India is hopeful that a timely interim deal could give it an advantage over others.
“Exporters are hopeful that an early trade pact will be reached before July 8 and the reciprocal tariffs on India will be withdrawn. If competing countries fail to reach a deal with the US and have their tariffs rolled back, India will have a definite advantage,” an industry source said.
Published on May 27, 2025
This article first appeared on The Hindu Business Line
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