Overview

• India and the United States have completed five rounds of talks since March, and the planned late‑August session was deferred with no new dates announced.
• Goyal said geopolitical issues have recently overtaken trade considerations in the discussions.
• Officials have been targeting a first‑phase agreement this fall and a goal to lift two‑way trade to $500 billion by 2030 from about $191 billion.
• U.S. Treasury Secretary Scott Bessent said he expects the two sides to resolve differences, while criticizing India’s Russian oil purchases; India defended its energy policy and called the tariffs unjustified.
• Parallel India‑EU negotiations are advancing, with Commerce Secretary Sunil Barthwal in Brussels, a 13th round set for September 8 in New Delhi, and EU Trade Commissioner Maros Sefcovic due to visit on September 12.