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2h ago

Goyal Poised for Washington Trip to Accelerate India–U.S. Trade Deal Talks

The trip follows a 'constructive' New Delhi round under pressure from a 50% U.S. tariff that has elevated a first-phase deal to a near-term priority.

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Overview

  • Sources say Commerce Minister Piyush Goyal is likely to travel to Washington in the coming days to advance negotiations on a proposed Bilateral Trade Agreement.
  • A seven-hour September 16 meeting in New Delhi between USTR negotiator Brendan Lynch and India’s Rajesh Agrawal was described as constructive, with both sides agreeing to intensify efforts.
  • Negotiators have completed five rounds and are targeting completion of an initial phase of the agreement by late 2025.
  • The talks are unfolding under a steep U.S. tariff regime on Indian goods reported at a combined 50%, including a 25% penalty linked to purchases of Russian crude oil.
  • Officials frame the pact as a path to lift bilateral trade toward $500 billion by 2030, with current trade reported at $131.84 billion in 2024–25 and the U.S. as India’s top partner.