Overview

• Sources say Commerce Minister Piyush Goyal is expected to travel to Washington in the next few days to advance negotiations on a phased Bilateral Trade Agreement.
• A September 16 meeting in New Delhi between U.S. negotiator Brendan Lynch and India’s Rajesh Agrawal was described by India’s Commerce Ministry as constructive, with both sides agreeing to intensify efforts.
• The talks continue under pressure from a U.S. 50% tariff on Indian goods, combining a 25% reciprocal rate with a 25% penalty tied to India’s purchases of Russian crude.
• Negotiators have completed five rounds and are targeting a first tranche of the agreement in October–November 2025, with the pact intended to lift two‑way trade toward $500 billion by 2030.
• India’s chief economic adviser said he expects the tariff standoff to be resolved within roughly two months, underscoring the stakes as the U.S. remains India’s largest trading partner.