Speaking to media on the sideline of an event, Goyal further indicated that negotiations between the two countries are nearing a crucial stage despite recent tariff-related concerns.
The talks that are scheduled between June 2 and June 4 are expected to focus on finalising the legal text and ironing out remaining issues in the proposed interim agreement, whose broader framework has already been agreed upon.
Canadian envoy said, the two countries were now exchanging information and conducting joint operations.
The latest data shared by the minister shows that total patent applications reached 1,43,729 in FY 2025-26, up from 1,10,375 in FY 2024-25, continuing a steady upward trend seen over the past decade. Patent filings have risen significantly from under 50,000 in FY 2015-16, indicating sustained growth in innovation activity.
Speaking at a media event here, the minister said India’s strong economic fundamentals would help the country navigate the current global uncertainty.
India and Washington have decided to reschedule the official meeting over the interim bilateral trade agreement, so that both sides can factor in the implications of the US Supreme Court judgment striking down the Trump administration’s tariff hikes.
Addressing the first National Quality Conclave virtually, organised by the Department for Promotion of Industry and Internal Trade (DPIIT) in partnership with the Quality Council of India (QCI), Goyal stressed that Prime Minister Narendra Modi’s vision of “zero defect, zero effect” should guide India’s growth journey during the Amrit Kaal and help realise the dream of Viksit Bharat 2047.
India is working on expanding its preferential trade agreement with the South American bloc Mercosur to boost trade and investment between the regions, according to the country’s Commerce and Industry Minister.
On February 7, the US and India announced in a joint statement that they reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade.
Speaking on the recent developments in the trade sector that India has witnessed, Goyal said, "Ultimately, if you see, 70 per cent of the global GDP and two-thirds of global trade is today open to India.
Goyal stated that India today engages with developed economies with confidence, safeguarding sensitive sectors while securing gains in areas of competitive strength.
Framing India's long-term ambitions, Goyal noted that the country is working toward becoming a USD 30-35 trillion economy by 2047.
Earlier this month, the US and Bangladesh signed an agreement on February 9, reducing reciprocal tariffs to 19 percent from the earlier 20 percent.
The United State has officially warned that it will monitor India's purchase of Russian oil through direct or indirect channels, and if it finds that Delhi has resumed crude import from Moscow, it can re-impose the tariffs.
Addressing a press conference, he said that the Prime Minister had used his friendship with US President Donald Trump to clinch a very good deal for India, giving priority to national interest.
In a meeting on the holistic benefits of the Budget at the NSE here, along with investors and captains from the mutual funds and asset management industry, the minister said the Budget addresses specific areas which will help the economy grow faster and achieve our goal of a Viksit Bharat by 2047.
Piyush Goyal said Budget 2026-27 positions India for long-term growth, boosting capex, tech, manufacturing, services, ease of doing business, global value chains, reforms and investor confidence toward Viksit Bharat 2047.
This relocation was done in order to create a one-stop facilitation destination for investors at all stages of the investment process, including issue resolution. Prime Minister’s Office appointed PMG as Secretariat to Monitoring Group in August 2021.
PiyushGoyal has just returned from Brussels, where he attended high-level talks with the EU Trade and Economic Security Commissioner, Maros Sefcovic, on Friday as part of the efforts to secure a mutually beneficial India-EU Free Trade Agreement (FTA).
During the latest ministerial-level discussions, both sides emphasised the strategic importance of concluding a fair, balanced, and ambitious agreement that aligns with their shared values, economic priorities, and commitment to a rules-based trading framework, said Ministry of Commerce and Industry in a statement.
India is pushing for zero-duty access for its labour-intensive sectors, such as textiles, leather, apparel, gems and jewellery, and handicrafts.
During the discussions, Goyal conveyed warm greetings from the people of India and highlighted opportunities for deeper collaboration across trade, investment, innovation, and technology.