New Delhi, Oct 2026 : Commerce and Industry Minister Piyush Goyal on Wednesday said the India-US relationship was highly consequential for the global community and would continue to strengthen irrespective of changes in political thinking in either country.
Speaking at the Bloomberg New Economy Forum in New Delhi, Goyal described the partnership between the two countries as strong, stable and resilient, expressing confidence that there were no major obstacles to reaching agreements with Washington.
“In my view, the partnership between the two countries is highly substantive and consequential for the world, given that both are large democracies. It is important to remember that the relationship is not limited to trade,” Goyal said.
He noted that the United States was India's largest trading partner and expressed confidence that it would retain that position in the coming years.
“By and large, I do not see any major obstacles to reaching agreements with the United States,” the minister said, underlining the importance of continued economic engagement between the two countries.
Goyal emphasised that bilateral ties extended well beyond commerce, encompassing defence cooperation, technology, critical supply chains and people-to-people exchanges.
“The fact remains that India and the United States continue to enjoy a very close relationship and engage across multiple areas. These include joint defence exercises and cooperation to ensure open supply chains in technology, goods, and services,” he said.
He added that the India-US relationship would grow stronger despite changes in political thinking in either country.
According to Goyal, the partnership draws its strength from the economic, political and security interests shared by both nations. These common interests, he said, would help ensure continuity and stability in bilateral engagement.
“It is, therefore, a stable and resilient partnership, and I do not think the rest of the world needs to worry about it,” the minister said.
Goyal's remarks come amid ongoing efforts by India and the United States to advance bilateral trade negotiations and expand cooperation across strategic sectors. His comments highlighted New Delhi's confidence in the long-term relationship, even as both countries navigate differences on trade and other policy issues.
The minister also outlined India's efforts to expand its international trade partnerships and improve access for Indian businesses in overseas markets.
He said that over the past four to four-and-a-half years, India had entered into preferential trade agreements with 38 developed nations.
“Our objective is to open India's markets to the world while ensuring that other markets are equally accessible to Indian businesses,” Goyal said.
Comparing India's trade engagement before and after 2014, he said the country's preferential market access had expanded significantly.
Until 2014, India's preferential market access covered economies with a combined gross domestic product of approximately $10 trillion. Today, according to Goyal, India's trade agreements cover economies representing around $70 trillion in GDP.
He said the expansion reflected India's efforts to strengthen global economic engagement while creating greater opportunities for domestic businesses.
Goyal's address underscored the government's twin priorities of deepening strategic partnerships with major economies and pursuing trade agreements that provide Indian exporters with wider access to international markets.
