PTI New Delhi

Commerce and Industry Minister Piyush Goyal on Tuesday expressed hope that India will conclude the proposed bilateral trade agreement (BTA) with the US by the fall or November this year. He said that "a little bit" of geopolitical issues overtook the trade matters in the negotiations for the pact between the two countries. "I do hope that things will get back on track soon and we will conclude a bilateral trade agreement by the fall, November or so, as was discussed by our two leaders in February," Goyal said at the Annual Global Investor Conference 2025 in Mumbai.

In his virtual address, he said there is an excitement across the world to expand trading and business relations with India. "We have had a little bit of geopolitical issues overtaking trade issues in our negotiations with the United States of America," he added.

India has already inked FTAs with Australia, the UAE, Mauritius, the UK and the four European nations bloc EFTA, he said. "Lots happen, lots more to go...With the US, we are in dialogue with them on a BTA," the minister said earlier in the day.

India-China relations moving towards normalcy

Goyal on Tuesday said India-China relations are gradually moving towards normalcy, noting that as border issues get resolved, easing of tensions is a natural consequence. At the meeting held on the margins of the SCO summit, Modi and Xi agreed to work towards a "fair, reasonable and mutually-acceptable" solution to the India-China border issue, and pledged to expand trade and investment ties, recognising the role of the two economies to stabilise global trade.

"This was an SCO summit, where all the SCO members participated. We had a problem in Galwan, due to which we had a blip in the relationship. As the border gets resolved, I think the situation getting back to normal is a very natural consequence," Goyal told reporters.