India to reshape US trade pact as circumstances shift, says Goyal

India will incorporate shifted circumstances into the finalization of its interim trade agreement with the United States, Commerce and Industry Minister Piyush Goyal said Saturday. The bilateral trade framework was announced in February, but Goyal indicated that evolving conditions necessitate a recalibration of the pact's terms. "Some circumstances have changed; the final decision will be made keeping that in mind," Goyal told members of the PHD Chamber of Commerce and Industry here. The minister did not specify which circumstances had altered, though changing tariff policies in the US have reportedly prompted fresh rounds of negotiation on the first phase of the bilateral trade engagement. India continues to push for lower tariff access to American markets compared to competing nations. Beyond the US negotiations, Goyal said India is simultaneously pursuing trade agreements with several other partners. These include Israel, Chile, members of the Gulf Cooperation Council, and the Russia-led Eurasian Economic Union. The multi-pronged trade strategy reflects India's broader efforts to diversify its commercial partnerships and secure favorable market access across key regions.