Union Commerce and Industry Minister Piyush Goyal has said that there is immense potential in the relations between India and America. He expressed confidence that trade between the two countries can reach 500 billion dollars in the next 5 to 6 years. He also said that this deal has received positive response from the industry and other parties in India.

​Apart from America, India is also pursuing Free Trade Agreements (FTA) with other countries. Piyush Goyal said that till now India has signed 9 FTAs, through which trade is done with 38 countries.

Speaking at the NDTV Profit Conclave, Piyush Goyal said that despite the difficult global situation, India’s total trade is expected to grow by 5 to 6 percent this year. He said that India is in a strong position while moving towards the goal of Developed India 2047. The reason for this is stable policies and increasing confidence of investors.

Piyush Goyal said that the trade deal framework signed with America will open up huge possibilities in many sectors. Especially investments in Artificial Intelligence (AI) and data centers will get huge benefits from this.

He said that with this agreement, India will benefit from the products coming from America and will also create new investment opportunities within the country.

He said that India is currently negotiating for an FTA with Canada. Apart from this, the agreement with another country is about to be completed, although he did not reveal the name of that country.

Piyush Goyal said that the talks with America took place without any tension and there was cooperation from all sides. He said that the government’s focus is on making such agreements that promote economic growth, investment, new technology and India’s strong role in the global supply chain.

Piyush Goyal said that India is rapidly moving towards becoming a 30 trillion dollar economy by the year 2047. He said that the continuous growth in trade and strong partnerships with many countries of the world are supporting this journey of India. He made this statement on the same day when the India-US Trade Deal Framework was announced.​