India-US trade pact in final stages, says Piyush Goyal at The Hague
Synopsis
Commerce Minister Piyush Goyal declared in The Hague that the India-US trade deal is past major negotiations and now in the fine-tuning phase — a claim reinforced by President Trump saying both sides are 'pretty close.' With eight other trade talks running in parallel, India is mounting its most ambitious bilateral trade push in years.
Key Takeaways
Commerce Minister Piyush Goyal said India and the US have 'concluded most discussions' on a bilateral trade deal and are now 'fine-tuning the agreement,' speaking at The Hague on 26 October 2026 .
US President Donald Trump separately said the two sides are 'pretty close' to a deal, calling it 'a much different kind of deal.' US Ambassador Sergio Gor confirmed major issues in the talks have been addressed.
India has insisted the final agreement must give Indian exporters a competitive advantage over rivals from other countries.
India is simultaneously conducting trade negotiations with eight other countries .
Goyal is on an official Europe visit to Germany and the Netherlands from 22 to 27 October , also discussing the India-EU FTA .
Commerce and Industry Minister Piyush Goyal on Monday, 26 October 2026, said that India and the United States have resolved most of the outstanding issues in their proposed bilateral trade agreement and are now engaged in finalising the text. His remarks were made at the India-Netherlands Business Forum in The Hague.
'We have concluded most of the discussions on the India-US trade deal. Now we are fine-tuning the agreement,' Goyal said at the forum.
Where the Negotiations Stand
The minister's assessment aligns closely with signals emerging from Washington. US President Donald Trump recently told reporters at the White House that the two sides were 'pretty close' to striking a deal. 'We're going to make a deal… It's going to be a much different kind of deal than we've done,' Trump said.
Separately, US Ambassador to India Sergio Gor struck an optimistic note, indicating that the major sticking points in the negotiations had been addressed and that both countries were moving toward a final agreement.
India's Core Demand in the Talks
Goyal has previously made clear that India's fundamental condition in the trade talks is that the final deal must deliver a competitive advantage for Indian exporters over rivals from other countries. This demand reflects India's broader strategy of leveraging trade agreements to boost manufacturing exports and position itself as an alternative to China in global supply chains.
Notably, India is simultaneously conducting trade negotiations with eight other countries, signalling a wider diplomatic push to diversify and deepen its trade ties beyond the India-US framework.
India-Netherlands and EU Ties on the Agenda
On the sidelines of his Netherlands visit, Goyal met with Members of Parliament from the Netherlands to explore fresh avenues for bilateral cooperation. In a post on X, he said the two sides 'discussed the potential of the India-EU FTA to boost market access, diversify supply chains, and unlock fresh investment opportunities.' He also underscored the significance of collaboration in advanced manufacturing, renewable energy, and innovation.
Context: Goyal's Europe Visit
The minister is on an official visit to Germany and the Netherlands from 22 to 27 October. During the Berlin leg of the trip from 22 to 24 October, he participated in the Berlin Global Dialogue, engaging with international policymakers and global business leaders to highlight India's macroeconomic stability, manufacturing capabilities, and role in building resilient global supply chains.
As both governments signal readiness to close the deal, the coming weeks could prove decisive for a bilateral trade framework that has been in negotiation for several years.
Point of View
Trump at the White House, and Ambassador Gor in New Delhi is unusual — three independent voices saying the same thing simultaneously rarely happens by accident in trade diplomacy. Yet 'fine-tuning' has been the diplomatic language around this deal for months, and the gap between a near-final text and a signed agreement can stretch considerably in complex bilateral negotiations. India's insistence on a competitive edge over third-country rivals is a structurally ambitious ask — one that will test American willingness to effectively disadvantage other partners. The parallel push across eight other trade fronts suggests New Delhi is no longer content to let the US deal define its entire trade calendar, which itself changes the negotiating dynamic.
NationPress
26 Oct 2026
Frequently Asked Questions
What is the current status of the India-US trade deal?
According to Commerce Minister Piyush Goyal, most of the substantive discussions on the India-US bilateral trade agreement have been concluded and both sides are now in the final fine-tuning phase. US President Donald Trump has separately confirmed the two countries are 'pretty close' to a deal.
What is India's key condition in the trade talks with the US?
India has stated that the final agreement must give Indian exporters a competitive advantage over rivals from other countries. This condition reflects India's broader aim to boost manufacturing exports and strengthen its position in global supply chains.
What did Piyush Goyal say about the India-EU FTA in The Hague?
Goyal met with Dutch Members of Parliament and discussed the potential of the India-EU Free Trade Agreement to boost market access, diversify supply chains, and unlock new investment opportunities. He also stressed collaboration in advanced manufacturing, renewable energy, and innovation.
How many countries is India currently negotiating trade deals with?
India is simultaneously conducting trade negotiations with eight countries, in addition to the ongoing India-US bilateral trade discussions, signalling a broad diplomatic push to expand and diversify its trade partnerships.
What was the purpose of Goyal's visit to Germany and the Netherlands?
Goyal's official Europe visit from 22 to 27 October was aimed at deepening India's strategic economic partnerships, expanding bilateral trade, and advancing industrial and technological collaboration. In Berlin, he attended the Berlin Global Dialogue; in The Hague, he participated in the India-Netherlands Business Forum.
