Delhi: Union Commerce and Industry Minister Piyush Goyal on Wednesday informed the Lok Sabha that India and the United States are currently working together on the next steps of the India–US Trade Agreement, with a focus on completing procedural formalities so that the agreement’s full potential can be realised at the earliest.
Addressing Members of Parliament during the ongoing Budget Session, Goyal clarified that while the agreement has been announced, certain trade-related processes and documentation are still being finalised between the two sides.
“I would like to inform the MPs that with regard to the next course of action, both sides will work together to fulfill important processes related to trade agreement-related and finalise the paperwork so that its full capability can be taken benefit of at the earliest. The details of the Agreement will be announced soon after the conclusion of these processes,” the Minister said in the House.
Responding to concerns raised by Opposition members, Goyal stressed that India’s core national interests, particularly energy security, remain non-negotiable in any international agreement. He underlined that ensuring uninterrupted energy supplies for India’s vast population is the government’s foremost responsibility.
“I want to make it clear that, as the Govt has said publically several times, that safeguarding the energy requirments of 140 Crore Indians is the biggest priority of the Govt,” Goyal said.
The Commerce Minister further explained that India’s approach to trade and energy policy is shaped by global realities and evolving geopolitical conditions. He said diversification of energy sources is a strategic necessity rather than a political choice.
“In line with an objective market, circumstances and changing geopolitical situation, diversifying energy sources is the basis of our work style,” he added.
