NEW DELHI, Sept 24: India and the United States are holding discussions at multiple levels covering both trade and non-trade issues, a senior official confirmed on Tuesday. Commerce and Industry Minister Piyush Goyal, currently in Washington, is leading the Indian delegation that includes chief negotiator Rajesh Agrawal.
The visit comes against the backdrop of recent day-long talks in New Delhi between US Chief Negotiator Brendan Lynch and Agrawal on the proposed Bilateral Trade Agreement (BTA). Both sides described those negotiations as positive and committed to an early conclusion of the pact.
The ongoing discussions are particularly significant as they follow the imposition of a 25% tariff and an additional 25% penalty by the US on Indian goods, linked to India’s purchase of Russian crude oil.
Negotiations for the BTA began earlier this year after leaders of both countries directed officials to fast-track the process. Five rounds of talks have been completed so far, with the first tranche of the agreement targeted for October-November 2025. The pact aims to more than double bilateral trade to USD 500 billion by 2030 from the current USD 191 billion.
India’s bilateral trade with the US stood at USD 131.84 billion in 2024-25, making the US India’s largest trading partner for the fourth consecutive year. Exports to the US totalled USD 86.5 billion, accounting for nearly 18% of India’s total goods exports.
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Labels: India-US Relations, Trade Talks, Bilateral Agreement, Piyush Goyal, Washington
Tags: #India #USTrade #BilateralAgreement #TariffDispute #PiyushGoyal #Washington
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