Piyush Goyal: Commerce Secy to visit Mexico next week, trade deal with Peru unlikely

Describing India's economy as the 3rd largest in the world on a purchasing power parity basis at around $20 trillion, Goyal said that the country's approach to trade negotiations reflects its changing economic position and strengthening integration with global markets. 2 Min Read Commerce and Industry Minister Piyush Goyal has said that trade talks are underway with over a dozen countries and a potential trade deal with Peru may not happen. He pointed out that Commerce Secretary Rajesh Agrawal is slated to visit Mexico next week for trade talks, where the Terms of Reference (ToR) have been finalized for a trade pact. Terming the India-US trade deal "almost done and dusted", the Minister said that "we have to find the right comparable competitive advantage over our competitors so that we can quickly execute the agreement." Stating that ongoing negotiations include engagements with Canada, Chile, Peru, the Southern African Customs Union (SACU), Mexico, Maldives, the Russia-led Eurasian Economic Union (EAEU), the Gulf Cooperation Council (GCC) and Israel, he said these engagements are aimed at expanding opportunities for India to participate in global value chains and supply chains and facilitating the movement of goods and services.

Addressing the Leadership Dialogue at the 13th PAFI Annual Forum 2026 in New Delhi, the Minister said that trade talks with Maldives are critical from the point of view of tourism and its strategic location, expressing hopes for faster progress in trade talks with Israel after the West Asian country's upcoming elections. Also Read: EU regulations could push up costs and hurt European businesses, Piyush Goyal says Describing India's economy as the 3rd largest in the world on a purchasing power parity basis at around $20 trillion, he said that the country's approach to trade negotiations reflects its changing economic position and strengthening integration with global markets. He highlighted potential for broader economic partnerships to facilitate seamless flows of goods, services, tourists, educational institutions, and sports. (Edited by : Gautham Krishna) First Published: Sept 25, 2026 1:49 PM IST Home Economy News Piyush Goyal: Commerce Secy to visit Mexico next week, trade deal with Peru unlikely

Source: CNBC TV18