India, U.S in advance stage talks to resolve trade issues: Minister

Commerce and Industry Minister Piyush Goyal said India and the U.S are in an 'advance stage' of dialogue to resolve some of the pressing trade issues.

He said that both the countries can expand their trade relations which in future may result in a preferential or a free trade agreement.

"With the U.S, we are in an advance stage of dialogue to sort out some of the pressing issues," he said.

The remarks assume significance as both the countries are negotiating a trade package to boost two-way commerce.

The minister said that both the nations are big trading partners and can further expand trade.

"I would believe that going forward both counties will like to further expand that engagement which could lead to PTA (preferential trade agreement) and FTA (free trade agreement) in the years ahead," he added.