Piyush Goyal: US Trade Pact Steady, Visa Curbs Benefit India

Commerce and industry minister Piyush, Goyal said. trade talks between India and the US are progressing steadily. Both nations are currently working on the fine print of the proposed agreement.

Goyal shared these updates at the ET Startup Awards 2026 in Bengaluru on Friday. He also asserted that tighter American visa rules could help Indian industry.

The minister explained that stricter visa rules encourage skilled tech workers to stay in India. This shift helps domestic startups expand. It also brings more high-level technology assignments directly to Indian cities.

The comments follow cautious statements from other key officials. USTR Jaimeson Greer recently stated that a trade deal was not imminent. FM Nirmala Sitharaman also remarked that negotiations had reached a plateau.

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Goyal offered a reassuring view on the situation. Goyal said, "Going by what the US itself has said, it has nothing more to add or offer, and the fine print is being worked out," He added that the fine print is being worked out.

Goyal explained that legal details require careful attention. "The key issue is how the US will give us the comparative advantage we had agreed upon in Feb." He noted that this work requires deep legal skill. requires legal expertise, which AI cannot provide, because this goes beyond the textbook.

Goyal added, is what we are working.

The trade minister recently returned from an official visit to the United States. He noted that several American firms want to expand operations in India. US companies want to tap the skilled talent pool in the country.

They also value the strong cost advantages of doing business in India.

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"Look at the entire ecosystem and you will realise that every H-1B visa not granted is a big win for India," Goyal made this statement while explaining the broader economic picture.

He stated that fewer H-1B visas could give Indian startups strong momentum. Deep technology startups stand to gain the most from this trend. Goyal noted that the deep tech sector has substantial room to grow across the country.

Goyal clarified that he never raised H-1B visas or green cards during bilateral talks. He explained that immigration policy is not directly linked to trade negotiations. However, the movement of professionals to deliver services remains very important.

Goyal noted that global capability centers are expanding in major Indian cities. American corporations recognize the clear value of creating these technology hubs in India.