Overview

• India’s Commerce Ministry confirmed that Piyush Goyal will lead a delegation to the United States on September 22 to resume ministerial-level negotiations.
• The visit follows seven hours of “positive” talks on September 16 in New Delhi between USTR official Brendan Lynch and India’s chief negotiator Rajesh Agrawal, with both sides agreeing to intensify efforts.
• A combined 50% duty on selected Indian goods—25% reciprocal plus a 25% penalty tied to Russian oil purchases—remains the central pressure point shaping the talks.
• Five negotiation rounds have been completed, and officials are targeting an initial tranche of the Bilateral Trade Agreement by late 2025, with an aim to grow two-way trade toward $500 billion by 2030.
• The delegation will include Rajesh Agrawal, and reports indicate political-level outreach could occur on the UN General Assembly sidelines next week to support the negotiations.