India’s trade deal with the US remains a non-starter for now

Commerce and Industry Minister Piyush Goyal last week ruled out any trade agreements with the United States in the near future pointing out that the world’s largest economy is not looking at any new trade agreements for now. He, however, assured exporters that the government is working with the United States on issues of market access for Indian exporters.
India was keen to push for a mini-trade deal with the United States last year. Delhi, however, failed to do so, both in the final months of the Trump administration and the first few months of the Biden regime. In fact, the Biden administration has made it clear that it is not interested in entering into new free trade agreements with countries.