Overview
- Commerce Minister Piyush Goyal said India seeks a fair, equitable and balanced pact and will not compromise the interests of farmers, fishermen, dairy producers or workers.
- Officials said five negotiation rounds have concluded, the draft text is largely complete, and another round may not be necessary after October talks in Washington led by Commerce Secretary Rajesh Agrawal.
- President Donald Trump said the countries are "pretty close" to a fair trade deal and indicated the steep tariffs on Indian goods could be reduced at some point.
- The US imposed a total 50% levy on Indian imports this year, including an extra 25% tied to purchases of Russian crude, pressuring sectors such as textiles and seafood.
- Alongside the talks, India is diversifying export markets and sectoral ties, with EU approvals opening more fisheries access and a US business delegation from Utah discussing cooperation in AI, clean energy, minerals, biotech, aerospace and advanced manufacturing, as both sides target $500 billion trade by 2030.