India has secured the “best” trade deal with the United States among competing economies and is pushing for ‘preferential market access’ under the agreement, Union Commerce and Industry Minister Piyush Goyal said on Thursday. Preferential market access allows reduced or no tariffs on certain products.
Speaking to reporters after the recent World Trade Organisation (WTO) Ministerial Conference in Cameroon, Goyal said India is in a “very strong position” compared to other emerging economies. He stressed that the country is seeking special tariff benefits on select goods as part of the bilateral trade pact with the US.
India finalised an interim trade agreement with the US on February 2, which brought down tariffs from 50 per cent to 18 per cent. However, these tariffs were later struck down as illegal by a US court. Around the same time, the Donald Trump administration imposed a 10 per cent tariff on all trading partners.
Goyal said India will continue to push for “preferential access” and the “best possible deal” in its ongoing trade talks with the US.
“We are sitting on a very sweet spot,” Goyal said, projecting confidence in India’s economic positioning. He added that India’s fast-growing economy makes it an attractive destination for global investors.
The Minister also spoke about the WTO meeting, describing it as intensive discussions over four days. Key issues included WTO reforms, fisheries subsidies, investment facilitation, e-commerce, agriculture, and broader development concerns.
Addressed the media on India’s participation and constructive engagements at #WTOMC14, held in Cameroon.
Highlighted India’s active role in the intense deliberations on WTO reforms while safeguarding the interests of our citizens especially our farmers & fisherfolk. Also,… pic.twitter.com/ITx2YGUQLK
— Piyush Goyal (@PiyushGoyal) April 2, 2026