New Delhi: Union Minister of Commerce and Industry Piyush Goyal deals with an interview, in New Delhi|Image Credit: KAMAL KISHORE
These 2 Ministers in addition to Finance Minister Nirmala Sitharaman was dealing with an interview here on GST Bachat Utsav (GST Saving Festival).
When inquired about development about trade talks with United States, Goyal stated: “Talks are going on in a cordial environment.” He refrained from offering a time frame for the ‘excellent news’ related with finalizing of bilateral trade arrangement in between 2 nations. He did stress that no contract can be made up until we take care of the interests of India’s farmers, anglers and MSME sector
The Indian authorities group, headed by Commerce Secretary Rajesh Agrawal, remained in Washington today to hold trade talks with their United States equivalents.
In February this year, leaders of India and the United States directed authorities to work out a proposed Bilateral Trade Agreement (BTA).
They have actually repaired a due date to conclude the very first tranche of the pact by the fall (October-November) of 2025. Far, 5 rounds of settlements have actually been finished. Last month, Goyal led a main delegation to New York for trade talks.
These considerations are essential as the relations in between the 2 nations have actually been reeling under extreme tension after the Trump administration enforced a high 50 percent tariff on Indian items. It consists of a 25 percent extra import task for purchasing Russian petroleum.
India has actually explained these tasks as “unreasonable, unjustified and unreasonable”. The current phone discussions in between Prime Minister Narendra Modi and United States President Donald Trump have actually raised hopes of a favorable result from the continuous settlements for the trade offer.
GST caused intake increase
I&B Minister Vaishnaw stated that extra electronic devices intake worth 20 lakh crore is anticipated to take location this year due to GST reforms rolled out by the federal government last month. The minister stated that information from all retail chains reveals there were 20-25 percent more sales in contrast to last Navaratri and there are numerous such classifications, like 85-inch television where stocks were totally offered out.
“The boost in need for electronic devices items is straight affecting electronic devices making. Electronic devices production is now growing at a double-digit CAGR. It is highly likely that the intake will increase more than 10 percent this year, which suggests, there is a high possibility of Rs 20 lakh crore additional intake compared to in 2015,” Vaishnaw stated.
Released on October 18, 2025
