India is reconsidering the terms of its proposed interim trade agreement with the United States in response to changes in the American tariff environment. Commerce and Industry Minister Piyush Goyal shared this update while addressing members of the PHD Chamber of Commerce and Industry (PHDCCI) in New Delhi, according to the India Brand Equity Foundation (IBEF) on October 12, 2026.
Goyal explained that the framework announced in February may need adjustments to reflect the evolving trade situation. India is seeking more favorable tariff conditions to help its products remain competitive in the US market. The government intends to finalize the agreement after taking these changing circumstances into account.
Alongside discussions with Washington, India is pursuing trade agreements with several other countries and regional economic groups. These include Israel, Chile, the Gulf Cooperation Council (GCC) and the Eurasian Economic Union (EAEU). Negotiations with Canada are advancing at a quicker pace, while discussions with the Southern African Customs Union (SACU) are expected to begin soon. Trade talks with Mexico are also scheduled to start the following week.
Goyal also outlined upcoming diplomatic and commercial engagements involving the United Kingdom and Canada. Both countries’ trade ministers are expected to visit India next week. The UK minister’s visit will include a meeting of the India-UK Joint Economic and Trade Committee, following the implementation of the bilateral trade agreement in July.
According to Goyal, interest in establishing trade partnerships with India is growing among several countries. The government’s parallel negotiations reflect its broader effort to expand international commercial relationships while seeking favorable conditions for Indian businesses in overseas markets.
The reassessment of the US framework highlights India’s intention to account for changes in tariff policies before finalizing the arrangement. As negotiations continue across multiple regions, the outcomes could influence market access for Indian exporters and shape the country’s wider trade engagement.
