As trade discussions between India and the United States continue to advance positively, Union Commerce and Industry Minister Piyush Goyal is anticipated to make an early visit to Washington, sources indicate.
This upcoming visit follows recent intensive day-long talks in India between U.S. Chief Negotiator Brendan Lynch and his Indian counterpart, Rajesh Agrawal, focusing on the proposed bilateral trade agreement.
Sources familiar with the matter stated, “The Commerce Minister’s visit is expected very soon, possibly within the next few days, to further these trade negotiations.”
Just recently, on Tuesday, the Commerce Ministry confirmed that the discussions with the U.S. team regarding a bilateral trade deal were productive. Both nations have committed to intensifying their efforts to quickly finalize a mutually beneficial agreement.
The Ministry’s statement, released after a seven-hour meeting with U.S. officials, highlighted the decision “to intensify efforts to achieve early conclusion of a mutually beneficial trade agreement.”
These talks hold particular importance, especially since the U.S. previously imposed a significant 50% tariff on certain Indian goods.
This engagement by high-ranking U.S. trade officials marks their first visit since the implementation of a 25% tariff, compounded by an additional 25% penalty on Indian products entering the American market, specifically due to India’s procurement of Russian crude oil.
Earlier in February, leaders from both countries issued directives for officials to negotiate a proposed Bilateral Trade Agreement (BTA). The initial phase of this pact was slated for completion by the fall of 2025 (October-November). So far, five rounds of negotiations have taken place. The overarching goal of this agreement is to more than double the bilateral trade volume, aiming for $500 billion by 2030, a substantial increase from the current $191 billion.
Minister Goyal had previously visited Washington in May for trade discussions, where he met with U.S. Commerce Secretary Howard Lutnick.
For the fourth consecutive year in 2024-25, the U.S. has maintained its position as India’s largest trading partner, with bilateral trade reaching $131.84 billion (including $86.5 billion in exports from India). The U.S. plays a crucial role in India’s trade landscape, accounting for approximately 18% of its total goods exports, 6.22% of imports, and 10.73% of the country’s total merchandise trade.
Minister Goyal reaffirmed on Thursday that the trade talks between India and the U.S. are indeed advancing and moving in a constructive direction.