Piyush Goyal says India ready on trade pact with US, no decline in FDI inflows
By Anjali Sharma
WASHINGTON – Union Commerce and Industry Minister Piyush Goyal on Tuesday said that India is ready to move forward on a trade agreement with the United States by first addressing simpler, less contentious issues.
When asked whether something conclusive could be expected before July 9, he said, “I am a born optimist.”
He was speaking on Foreign Direct Investment, the Union Minister said there is no declining trend in FDI inflows into India, although periodic fluctuations may occur sometimes due to changes in global interest rates.
India is seeing renewed overseas inflows, and the government is open to suggestions and will adopt new measures to promote FDI in the country, he added.
Goyal highlighted some FDI figures, stating that India attracted FDI worth USD 748.78 billion over the last eleven financial years (2014-25), marking a 143% increase compared to the USD 308.38 billion inflow during the previous eleven-year period (2003-14).
The number of source countries for FDI increased from 89 in 2013-14 to 112 in 2024-25, underscored India’s growing global appeal as an investment destination.
“Given these figures, I don’t think there is any declining trend, although there may be some changes periodically, and that happens more due to changes in interest rate cycles in other countries. So, if the bond yields in some countries become exorbitantly high, money tends to flow into those countries. We have once again seen money flowing back into India,” Goyal said.
Goyal is in Bern on an official visit to engage with Swiss government leaders and business representatives.
He called on Swiss businesses to leverage the dedicated EFTA Desk at Invest India for handholding and facilitation support.
Goyal reiterated India’s willingness to work towards regulatory harmonization and mutual recognition agreements.
He also highlighted India’s proactive stance on building reciprocal bridges to encourage Swiss and Indian investments.
Swiss industry leaders across a diverse range of sectors—including biotechnology, precision manufacturing, healthcare, automation, defence, cyber security, and advanced material expressed strong confidence in India’s trajectory as a global economic powerhouse and an innovation-led growth destination.
