An official stated that talks between India and the United States are taking place at various levels, addressing both trade and non-trade issues.
Commerce and Industry Minister Piyush Goyal is in the United States for trade talks. He is accompanied by senior ministry officials, including Special Secretary and India's Chief Negotiator Rajesh Agrawal.
Key Highlights
- India and US are holding trade negotiations simultaneously at multiple official levels.
- Commerce Minister Goyal leads delegation; senior negotiators engage with US counterparts.
"Talks are ongoing at various levels," the official said, adding that the minister-led team is expected to return from the United States later this week.
Goyal has had discussions with his US counterpart.
This visit coincides with the recently concluded day-long discussions in New Delhi between US Chief Negotiator Brendan Lynch and Agrawal on the proposed bilateral trade agreement.
On September 16, the commerce ministry stated that the day-long discussions with the visiting US team on a bilateral trade agreement were fruitful, and both sides agreed to push for an early and mutually beneficial conclusion of the agreement.
The high-ranking US trade officials paid their first visit since imposing a 25% tariff and an additional 25% penalty on Indian goods entering the American market for purchasing Russian crude oil.
In February of this year, the leaders of the two countries instructed officials to negotiate a proposed Bilateral Trade Agreement (BTA).
Also Read: India & US Set for 1st Trade Talks after Russian Oil Tariff Clash
The first tranche of the pact was scheduled to be completed in the fall of 2025 (October-November). So far, five rounds of negotiations have occurred. The pact aims to more than double bilateral trade to USD 500 billion by 2030, up from USD 191 billion today.
Goyal went to Washington earlier in May for trade talks. He met with US Commerce Secretary Howard Lutnick in Washington.
In 2024-25, the United States remained India's largest trading partner for the fourth consecutive year, with bilateral trade worth USD 131.84 billion (USD 86.5 billion in exports).
The United States accounts for approximately 18% of India's total goods exports, 6.22% of imports, and 10.73% of the country's total merchandise trade.
