“India and the United States are engaged in continuous discussions concerning a proposed bilateral trade agreement. We see every possibility of meeting the November deadline for concluding these important talks,” stated Commerce and Industry Minister Piyush Goyal on Tuesday, October 7, 2025.
Addressing the prospect of holding the next round of trade negotiations in person, Minister Goyal acknowledged that while every option is on the table, the current U.S. government shutdown introduces uncertainty regarding the exact timing and location of future discussions.
Speaking to reporters in Doha, he reiterated, “As you know, the U.S. government is currently in a shutdown phase. Considering this, we will need to assess how, where, and when these discussions can proceed.”
The U.S. federal government has been non-operational since October 1, 2025, due to Congress’s failure to pass a funding bill. This situation means many government employees are currently without pay, and various service centers are closed. Nevertheless, essential government functions, particularly in defense and social services, continue to operate.
During his one-day official visit to Doha, where he led a business delegation focused on strengthening trade and investment between India and Qatar, Mr. Goyal commented, “We maintain constant communication with the U.S. regarding the trade pact, with discussions happening at various levels. Further details on our path forward will be shared soon.”
When questioned about adhering to the November deadline for concluding negotiations, he confidently responded, “There is every possibility.” Last month, the Minister led an Indian delegation to New York for trade talks. Following these meetings, both India and the U.S. committed to continuing negotiations to swiftly finalize a mutually beneficial bilateral trade agreement, having held constructive discussions on various aspects of the deal.
The Minister also engaged with United States Trade Representative (USTR) Jamieson Greer and U.S. Ambassador-designate to India, Sergio Gor, during his visit.
These deliberations were particularly significant as they followed the U.S.’s imposition of a 25% reciprocal tariff, plus an additional 25% penalty, on Indian goods entering the American market. This action was taken in response to India’s purchases of Russian crude oil, resulting in a total of 50% additional import duty currently levied on Indian products.
Earlier this year, in February, leaders from both nations instructed their officials to negotiate a proposed Bilateral Trade Agreement (BTA). The initial phase of this pact was intended to be finalized by the fall (October-November) of 2025. To date, five rounds of negotiations have been completed. The overarching goal of the BTA is to more than double bilateral trade, aiming for $500 billion by 2030, up from the current $191 billion.
The U.S. has maintained its position as India’s largest trading partner for the past four consecutive years (2024-25), with bilateral trade reaching $131.84 billion (including $86.5 billion in Indian exports). The U.S. currently accounts for approximately 18% of India’s total goods exports, 6.22% of its imports, and 10.73% of the country’s overall merchandise trade.