India minister says country hopes to clinch US trade deal by November

FILE PHOTO: India’s Commerce Minister Piyush Goyal takes part at the panel discussion “Trade: Now what?” during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. REUTERS/Arnd Wiegmann/File Photo

(Reuters) -India hopes to conclude a bilateral trade agreement with the United States by November, Commerce Minister Piyush Goyal said at an investor conference in Mumbai on Tuesday.

Trade negotiations with the European Union are progressing and relations with China are “returning to normal” as border tensions ease, Goyal said in a virtual address.

India has already finalized trade agreements with Mauritius, Australia, EFTA, the UK, and the UAE, he said at another event.

The United States is India’s largest trading partner, but relations have become strained amid disputes over tariffs and New Delhi’s purchases of Russian oil.