New Delhi, May 29 (PTI) Commerce and Industry Minister Piyush Goyal on Thursday said negotiations with the US for a bilateral trade agreement are well on track.

The negotiations for the trade agreement with the European Union (EU) are also progressing at a faster pace, he added.

“We are well on track in our bilateral trade agreement with the US and making fast progress with EU,” Goyal said at the CII’s Annual Business Summit, 2025.

A US official team is visiting India next week for trade talks with India.

Earlier in the day, Special Secretary of the Department of Commerce Rajesh Agrawal said the talks are progressing well.

“Hopefully, in these tough times also, we will be able to navigate and come out with good outcomes sooner than later. We should be able to work out a trade partnership, where there are natural comparative advantages to our businesses on both sides,” he said.

There are only a few areas where India and the US compete, he said.

“Most of the areas are where we can complement each other. If we can do a good trade deal, this can be a defining partnership in the trade arena and that’s what is the intent behind approaching this bilateral trade agreement,” Agrawal said.

The overall discussion around tariffs and trade deficit is the narrative of the US and those are the challenges they have to meet, he added.

“But that, I think, should not come in the way of our trade partnership that we are trying to stitch together,” he said. PTI RR BAL BAL BAL BAL