Expressing India's willingness to expand economic relations with the US, Union Minister of Commerce Piyush Goyal said New Delhi is ready to extend its trade ties with Washington in the spirit of reciprocity and equality.
Addressing the 4th Annual Leadership Summit for US-India Strategic Partnership Forum (USISPF) virtually, Goyal said, "India and the US can be two countries which should be looking at a balance mutual trade of a trillion dollars in the next 10 years."
"And unless you keep some very ambitious targets we will never get that."
Underlining the importance of India-US ties, Goyal said that both countries have come a long way and are natural and indispensable partners and both need to work together.
Goyal said a lot of effort was made in his one and a half years and various officials were involved in the discussions, but unfortunately, the previous discussions with the US could not result in a trade deal.
"We had actually concluded discussion maybe three or four times but would always get stuck somewhere in the red tape and for a change, India was not responsible," he added.
Stressing his personal interest in the deal, he stressed that "we were always forthcoming. I personally invested a lot of my time in trying to make it happen including meeting with your medical devices compes on four or five occasions both in India, in Washington and New York."
Underlining his attempts, Goyal further stressed, "So I made a sincere effort. Unfortunately, it didn't work out."
He hoped now this would happen with the closeness that Quad has created among the four countries.
Further, Goyal mentioned India's FTA with Japan and progressing negotiations towards a comprehensive economic partnership with Australia. He stressed that "now it's left to the US to engage in a much bigger way".
During the address at the USISPF, Goyal urged the American side to also impress this fact upon their administration.
"I am happy to look at a trillion-dollar target in the next 10 years. I am happy to engage with the US and look for expanding our economic partnership so then all four members of the Quad would have strong economic ties with each other," Goyal added.
( With inputs from ANI )
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