India-US trade deal talks are back on track with commerce minister Piyush Goyal expected to visit America soon. The visit would follow the recent one-day discussions between US Chief Negotiator Brendan Lynch and Indian counterpart Rajesh Agrawal in India, focusing on the proposed bilateral trade agreement.According to a PTI report quoting sources, Piyush Goyal is likely to travel to Washington shortly, as India-US trade negotiations continue to progress positively.
“The commerce minister’s visit is likely soon… may be in the next few days… for the trade talks,” sources were quoted as saying.The commerce ministry reported on September 16 that discussions with the visiting US delegation regarding a bilateral trade agreement were constructive, with both parties committed to reaching a swift and advantageous conclusion.“It was decided to intensify efforts to achieve early conclusion of a mutually beneficial trade agreement,” the ministry announced in a statement following a seven-hour meeting with US representatives.Also Read | Big blow! Trump revokes sanctions waiver – why is Iran’s Chabahar port important for India & what does US move mean?The discussions held significance due to the US implementing a substantial 50 per cent duty on goods from India. The senior US trade delegates’ visit marked their first in-person meeting following the implementation of a combined 50 per cent duty (25 per cent base tariff plus 25 per cent additional levy) on Indian products entering US markets, linked to India’s Russian oil purchases.After imposing 50% tariffs, US President Donald Trump recently struck a conciliatory note, calling Prime Minister Narendra Modi a ‘friend’. PM Modi responded positively, paving way for trade deal negotaiotions to resume.Earlier in May, Goyal conducted trade discussions in Washington, engaging with US Commerce Secretary Howard Lutnick.
India-US Trade Deal soon?
Piyush Goyal indicated on Thursday that negotiations for the US trade agreement are progressing well, with recent dialogues yielding positive outcomes.“The talks that happened two days back were productive and are working on the right track… Talks are moving positively… it’s moving in the right direction… India and the US are natural partners,” he said.“Negotiations are going on, and we look at it as a situation. It’s not a friction. America is our trusted partner,” he elaborated on the current state of bilateral discussions.The US maintained its position as India’s principal trading partner for the fourth successive year in 2024-25, achieving bilateral trade of $131.84 billion ($86.5 billion exports).Also Read | ‘Solution to penal tariffs in 8-10 weeks’: CEA Nageswaran’s ‘personal feeling’ on Trump tariffs; says 15% rate eyedThe US represents approximately 18 per cent of India’s overall goods exports, 6.22 per cent of imports, and 10.73 per cent of the country’s total merchandise trade.In February, leadership from both nations instructed officials to work on a proposed Bilateral Trade Agreement (BTA).The initial phase of the agreement was scheduled for completion in autumn (October-November) 2025. The negotiations have progressed through five rounds thus far. The agreement aims to increase bilateral trade from the present $191 billion to $500 billion by 2030.
