Commerce and Industry Minister Piyush Goyal said on Friday that negotiations between India and the United States over a trade agreement were moving forward steadily. He explained that both countries were working on the finer details of the deal, but its finalisation would depend on the US providing India with the agreed "comparative advantage." Goyal made these remarks at the ET Startup Awards 2026 in Bengaluru while discussing the progress of India-US trade negotiations and the broader relationship between the two countries. His comments came amid mixed signals about the timeline for an agreement. US Trade Representative Jamieson Greer had recently indicated that a deal was not imminent. Meanwhile, Finance Minister Nirmala Sitharaman said that the negotiations had reached a plateau. Speaking at the event, 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," Goyal said at the Awards. "The key issue is how the US will give us the comparative advantage we had agreed upon in February. That requires legal expertise, which AI cannot provide, because this goes beyond the textbook. That is what we are working on," he added.

US H-1B Visa Restrictions Could Benefit India

Goyal also discussed the potential impact of tighter H-1B visa access in the United States. According to the minister, restrictions on these visas could create new opportunities for India by encouraging skilled professionals to remain in the country and prompting American companies to shift more technology-related work to Indian cities. He argued that such a shift could strengthen India's startup ecosystem, particularly in deep technology, where significant growth opportunities remain. Goyal, who recently returned from a visit to the United States, said several American companies had outlined their plans to expand their presence in India. These companies are looking to benefit from India's skilled workforce and comparatively lower operating costs. Explaining his position on US visa restrictions, Goyal said, "Look at the entire ecosystem, and you will realise that every H-1B visa not granted is a big win for India," Goyal said. He suggested that reduced access to H-1B visas could encourage companies to hire more Indian professionals locally instead of moving them to the United States. This could also create fresh opportunities for Indian startups and technology businesses.

Indian Startups Could Gain from Shifting Technology Work

Goyal said India's deep-tech sector could benefit from the changing environment surrounding skilled-worker visas. As companies reconsider where they employ technology professionals, Indian startups could gain access to talent and business opportunities that might otherwise have moved overseas. He also pointed to the growing presence of Global Capability Centres (GCCs) in India. These centres allow multinational companies to carry out technology, research, business operations and other specialised functions from Indian cities. As global companies increasingly recognise India's talent pool and cost advantages, more technology work could move to the country. This trend could support employment, encourage innovation and strengthen India's position as a global technology hub.

Goyal Says H-1B Visas Were Not Part of Trade Deal Discussions

The commerce minister clarified that he had not raised H-1B visas or green cards during his discussions with US officials. He explained that immigration matters were not directly connected to trade negotiations. However, Goyal acknowledged that the movement of professionals across borders remained important for delivering services. While immigration and trade are separate issues, restrictions on skilled workers can influence where companies choose to establish operations and carry out technology-related work. His remarks highlighted India's potential to benefit if US visa restrictions encourage companies to expand their operations and hire more skilled professionals within India.

India and US Continue Work on Trade Agreement Details

The latest comments suggest that India and the US are continuing to work through the legal and technical details of their proposed trade agreement, even as questions remain about when they will finalise it. Goyal indicated that securing the comparative advantage discussed by both countries in February remains a key issue for India. The final outcome will depend on how the two sides resolve the remaining details and translate their understanding into a formal agreement.