Overview

• Commerce Minister Piyush Goyal said in Doha that dialogue with the United States on a bilateral trade agreement is ongoing at multiple levels.
• He noted that whether the next negotiating round can be held in person is uncertain because Washington is in shutdown mode.
• Officials have completed five rounds and still see a path to concluding a first tranche by October–November 2025 following ministerial meetings in New York.
• Talks continue under pressure from a combined 50% additional U.S. duty on many Indian goods, including a 25% penalty linked to purchases of Russian crude.
• The proposed pact seeks to lift two-way trade toward $500 billion by 2030, with the U.S. remaining India’s top trading partner at $131.84 billion in 2024–25.