Overview
- Negotiators report five rounds completed since March, including an October 23 virtual session, with both sides working to finish the first phase by the end of 2025.
- Commerce Minister Piyush Goyal said there is "every possibility" of meeting a November timeline, while U.S. officials describe recent sessions as positive and forward‑looking.
- The United States has imposed a combined 50% tariff on Indian goods, including a 25% base duty plus a 25% penalty linked to New Delhi’s Russian crude purchases.
- Trump repeated his claim that India has largely curtailed Russian oil buys, a characterization India’s Ministry of External Affairs has pushed back on while stressing sovereign energy choices.
- The proposed agreement aims to lift bilateral trade from roughly $191 billion to $500 billion by 2030, with the United States remaining India’s largest merchandise export market.