New Delhi: Commerce and Industry Minister Piyush Goyal on Monday said that he met a US business delegation led by Utah Senate President Stuart Adams, and discussed collaboration in areas like artificial intelligence (AI), clean energy, minerals, academia and research, biotech and more.
Discussions were held on strengthening the collaboration in various domains like AI, clean energy, minerals, academia and research, biotech, aerospace, and advanced manufacturing, etc, the minister said in a post on X social media platform.
Goyal further stated that “driven by innovation and youthful dynamism, there lies immense potential to shape a future of shared growth and prosperity”.
The minister said recently that India is at an advanced stage of discussions with both the European Union (EU) and the US for trade deals.
Goyal said that India today negotiates with advanced countries and is keen to contribute to their future as we would like them to contribute to our future for a Viksit Bharat.
“Every agreement stands on the comparative advantage India will have vis-a-vis its trading partner. It is not only about tariffs. We have set a target of doubling our trade in goods and services with the US to $500 billion by 2030,” he added.
The US has imposed a 25 per cent penal tariff on India for purchasing oil from Russia, which is in addition to the 25 per cent reciprocal tariffs on Indian goods entering American markets.
New Delhi has described these duties as "unfair, unjustified and unreasonable.
"We are in dialogue with the United States of America. Our teams are engaged. We recently had the commerce secretary visit the US, and he met with his counterparts. We continue to engage with them, and talks are progressing. We hope to work towards a fair and equitable agreement in the near future," Goyal said earlier.
However, at the same time, the minister has also stated that India will not rush into any trade agreement as it wants to go in for a fair and equitable deal with its partner countries and not one that restricts its trading choices.
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