Piyush Goyal, the Union Minister of commerce and industry, made a statement on Tuesday- September 1, 2020, suggesting that the trade package is all set to be finalized once the presidential elections take place in November. The deal can be established either before or soon after the elections take place.

Goyal also stated that he is in touch with Robert Lighthizer – the US trade representative and that they both are in a mutual agreement of the trade being finalized, once the situation is favorable in the US, in terms of its local political arrangement. Both believe that with this trade both the countries can look forward to a much larger engagement that might give rise to a free trade agreement between the US and India.

During the third Annual Leadership Summit of the US-India Strategic Partnership Forum, the Union Minister remarked that – “The whole package is nearly ready and can be finalized at any time when the local political situation in the US permits them to. India believes that it has to be a win-win situation for both India and the US.” He also added “I spoke with Ambassador Lighthizer. We agree that we can look at doing it before elections also or soon after. I am open to signing up tomorrow.”

During the same summit of the US-India trade Strategic Partnership Forum, on Monday, S. Jaishankar – the external affairs minister had interacted with the former US envoy to India- Timothy Roemer. Jaishankar suggested that this policy is a ‘win-win’ situation for both nations.

The trade is said to be in favour of both the countries and might serve as a deepening strategic partnership. Goyal also said “It is in the interest of India and US to deepen our strategic partnership with this trade deal. It will open the doors to starting a dialogue on a larger bilateral engagement.”