India-US Trade Talks Progressing Well, First Phase Deal Targeted For Nov 2025: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal underlined the progress being made in the ongoing trade negotiations between India and the United States.

Speaking in Patna on Thursday, he recalled that in February 2025, Prime Minister Narendra Modi and President Donald Trump had directed ministers of both nations to deliver the first tranche of a trade agreement by November 2025.

According to Goyal, discussions have been “going on very seriously in a very good environment” since March, with both sides satisfied at the pace of advancement, reported ANI.

Sharp Words for the Opposition

During the press conference, Goyal did not hold back in his criticism of opposition leaders. He accused Congress leader Rahul Gandhi and RJD’s Tejashwi Yadav of misleading the public. “The Opposition is looking for a reason to defeat us. I strongly condemn Rahul Gandhi for abusing PM Modi's mother. I want to tell Rahul Gandhi and Tejashwi Yadav that no matter how much you speak or abuse, the people of Bihar won't be misled; the people of Bihar are intelligent,” he asserted.

His remarks came against the backdrop of a controversy surrounding a viral video allegedly showing derogatory comments made against the Prime Minister and his late mother during a rally in Darbhanga. Police have arrested one individual, and investigations remain ongoing.

Commitment to Bihar’s Development

Goyal reaffirmed that under the leadership of Prime Minister Modi and Chief Minister Nitish Kumar, the NDA government was committed to the state’s progress. “The NDA will take Bihar to new heights,” he stated, expressing confidence that the alliance was ready to serve people with full dedication.

Praise for GST Reforms

The minister also used the occasion to highlight the Centre’s recent rationalisation of Goods and Services Tax (GST). He explained that the government’s decision to make everyday items such as toothpaste, edible oil, clothing, footwear, watches, and school stationery cheaper would spur consumption and business growth. “Recently, the Central government have done the work of making almost every daily item cheaper by making a big change in GST. Toothpaste, oil, clothes, watches, shoes, and stationery for school-going children all have become cheaper...Making many things available at 0% GST,” Goyal noted.

Further elaborating, he said that reducing GST on consumer goods like refrigerators, televisions and air conditioners had brought “a new enthusiasm into the lives of these people”. According to him, as products become more affordable, demand rises, and industries expand, leading to higher employment opportunities.

Employment and Economic Growth

On the broader economy, Goyal insisted that both the Centre and the Bihar government had already created jobs for lakhs of citizens. He described this as evidence of India’s momentum towards rapid development. “I believe that India is moving towards rapid development, and what is happening is the result of positive thinking. Under the leadership of PM Modi and CM Nitish ji, Bihar is progressing, the country is progressing,” he emphasised.

Festival Greetings and GST Council Update

Goyal also extended greetings to the people of Bihar ahead of the upcoming festive season, including Navratri, Dussehra, Diwali, Bhai Dooj and Chhath Puja.The Minister further mentioned the outcomes of the 56th GST Council meeting, where rates were simplified into two key slabs of 5 per cent and 18 per cent, replacing the earlier 12 per cent and 28 per cent structures.

Essential items such as food products, kitchen goods, agricultural equipment, handicrafts, and diagnostic kits were moved into the 5 per cent bracket. Most consumer goods and services, including automobiles and household electronics, now attract an 18 per cent tax. A higher 40 per cent slab remains applicable to luxury and sin goods, including tobacco, pan masala, sugary drinks, luxury vehicles, and yachts. Several essential health and education services continue to enjoy full exemption from GST.