‘False and misleading’: Piyush Goyal dismisses report of deadlock in India-US trade talks

Union Minister Piyush Goyal on Monday dismissed reports of a deadlock in the India-US negotiations for a bilateral trade agreement as “false, baseless and misleading”.

His reaction follows a report by a news agency, claiming that there was a deadlock in trade talks between India and the US, with New Delhi holding out for a better deal.

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The report by Reuters news agency had claimed that “India rejected a quick trade agreement with the US in recent talks and is holding out for a better deal as Prime Minister Narendra Modi draws confidence from new trading partners, eased economic risks and political gains at home.”

However, Goyal dismissed the report, saying negotiators from both countries are working to ensure a balanced and mutually beneficial trade deal.

“This news is completely false, baseless and misleading,” Goyal said.

The Commerce and Industry Minister said he had held “fantastic meetings” with US Trade Representative (USTR) Jamieson Greer during the latter’s visit to New Delhi in June, and reiterated that both countries remain committed to concluding a balanced and mutually beneficial trade agreement.

“I had fantastic meetings with USTR Jamieson Greer, when he visited Delhi in June. Both sides reaffirmed their commitment to an agreement that is balanced, commercially meaningful, and delivers tangible benefits for businesses, farmers, workers, and consumers in both countries,” Goyal said.

“Our teams remain fully engaged in achieving this objective,” he added.

His statement came after Commerce Secretary Rajesh Agarwal also said there are no hurdles in concluding the agreement. Briefing media persons on trade data for June 2026, Agarwal said, “We dont see any challenge on India-US trade deal negotiations.”

The Secretary during the media briefing outlined the recent engagement. “The Indian team visited US in May. US team visited in June.” He added “Talks are going on in proper framework.”

On the broader trade environment, Agarwal noted US tariff actions have created uncertainty for many partners. “IEEPA tariff has gone…” he said. “Now again they are in discussion with other countries. They are having parallel investigation,” he added. India is part of those discussions. “We have joined consultations. All progressing in right directions.”

Both sides have maintained a positive public tone. “Both sides saying things are good…” Agarwal said.

On the status of the deal, he said the framework of the deal is finalised. “India-US framework deal is ready. We are ready to sign. Right time is being awaited,” he said, adding, “Things are getting structured. We are progressing well.” (With inputs from agencies)