India seeks preferential market access in US trade deal, says trade minister Piyush Goyal

India is pushing for preferential market access in its bilateral trade negotiations with the United States, Trade Minister Piyush Goyal said, emphasising that the government wants to conclude a deal as quickly as possible. "The faster, the better," Goyal told reporters, confirming that talks are ongoing and that India is actively working to secure favourable terms for its exporters in the world's largest consumer market.

The negotiations have taken on fresh urgency as the Trump administration's tariff regime continues to reshape global trade flows. India, which had been hit with reciprocal tariffs earlier this year, has been in active dialogue with Washington to carve out a bilateral arrangement that gives Indian goods — particularly in labour-intensive sectors like textiles, leather, and garments, as well as pharmaceuticals and IT-enabled services — a competitive advantage over rivals such as Vietnam, Bangladesh, and China.

Preferential access, if secured, would mean lower or zero duties on specified categories of Indian exports entering the US, a significant commercial prize given that the US is India's largest export destination. Reuters earlier reported that India's trade team is seeking to lock in concessions before any broader multilateral framework resets the baseline.

The public optimism from Goyal mirrors a diplomatic push that has accompanied Prime Minister Modi's re-engagement with President Trump in recent weeks. A deal, however, remains complex — the US has its own demands around digital trade, agricultural market access, and intellectual property that India has historically resisted. The timeline for a final agreement remains uncertain, but the minister's tone suggests New Delhi is willing to move at pace.