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Piyush Goyal’s US Visit Targets G20 Trade and Interim Deal
Piyush Goyal is India’s commerce minister.
He will travel to the United States from September 29 to October 5.
He will attend a meeting where trade ministers from G20 countries discuss global trade.
India wants trade rules to be fair, open and centered on the World Trade Organization.
Goyal will also talk with American officials about a proposed trade agreement.
India and the United States have not yet agreed on all parts of the deal.
He will meet American companies and investors to encourage them to work with Indian businesses.
The talks are taking place while the two countries also have concerns about tariffs linked to Russian oil purchases.
The visit is intended to strengthen trade and investment ties.
Commerce Minister Piyush Goyal will visit the United States from September 29 to October 5.
He will attend the G20 Trade Ministers’ Meeting in Milwaukee on September 30 and October 1.
India and the United States will seek progress on a balanced interim trade agreement.
Goyal is scheduled to meet American business leaders, investors, startups and technology companies in Milwaukee, Chicago and New York.
India will promote a rules-based global trading system while seeking opportunities for farmers, fishermen, entrepreneurs, startups and MSMEs.
- Who
- Piyush Goyal, India’s Commerce and Industry Minister, along with G20 trade ministers, United States officials and American business leaders.
- What
- A United States visit involving the G20 Trade Ministers’ Meeting, India-US trade talks and meetings with companies and investors.
- Where
- Milwaukee, Chicago and New York in the United States.
- When
- September 29 to October 5; the G20 meeting is scheduled for September 30 and October 1.
- Why
- To advance an interim India-US trade deal, discuss global trade priorities and promote Indian investment and manufacturing opportunities.
India’s Priorities
United States Trade Context
Interim trade agreement
India’s Priorities
India wants a balanced and mutually beneficial interim deal and is seeking better terms before reaching consensus.
United States Trade Context
The United States is continuing negotiations with India, but the two countries have not yet finalized an agreement.
Tariffs linked to Russian oil
India’s Priorities
India has said that new tariffs connected to purchases of Russian oil could affect bilateral relations.
United States Trade Context
United States President Donald Trump signed legislation authorizing tariffs of up to 100 percent on countries buying Russian oil and gas, including India and China.
Global trade rules
India’s Priorities
India supports an open, transparent and equitable multilateral system while preserving policy space for developing countries.
United States Trade Context
The G20 meeting will bring together members to discuss global trade priorities, market access and the multilateral trading system.
Key facts
- Visit dates
- September 29 to October 5
- G20 meeting
- September 30 and October 1 in Milwaukee, Wisconsin
- Main trade issue
- Progress toward a balanced and mutually beneficial interim India-US trade agreement
- Multilateral focus
- A rules-based, open and inclusive trading system with the World Trade Organization at its core
- Business sectors
- Manufacturing, agriculture, agri-business, retail, consumer goods and technology
- Additional engagements
- Bilateral meetings with G20 counterparts and discussions with startups, investors and innovative companies
- Trade tension
- India has warned that possible tariffs linked to purchases of Russian oil could affect bilateral ties
Quotes
Government of India
The Indian government, in its statement about Goyal’s visit and G20 participation.
“India will engage constructively with all G20 members and work towards a rules-based, open, inclusive, transparent, equitable and non-discriminatory multilateral trading system, with the World Trade Organization at its core, while ensuring adequate policy space for developing countries.”
telegraphindia.com
“The visit is expected to further strengthen the trade and investment partnership between India and the United States and deepen India's engagement with its G20 partners.”
telegraphindia.com
Sources
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