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India-US Trade Deal "Very Near" as Top Officials Hold Key Meetings

Commerce Minister Piyush Goyal met US Senator Steve Daines and Ambassador Sergio Gor for a productive discussion on bilateral ties. This follows similar meetings by External Affairs Minister S. Jaishankar and Indian envoy Vinay Kwatra, highlighting ongoing diplomatic engagement. India's Commerce Secretary stated the first tranche of a much-anticipated Bilateral Trade Agreement is "very near," aiming to more than double trade to $500 billion by 2030. The talks continue amid existing US tariffs and recent political commentary from US officials about the deal's progress.

Key Points: India-US Trade Agreement Progress After Goyal, Jaishankar Meetings

  • Bilateral Trade Agreement talks advance
  • Target to boost trade to $500B by 2030
  • High-level diplomatic meetings in New Delhi
  • US tariffs of 50% on India remain a factor
3 min read

Piyush Goyal discusses bilateral relationship with US senator Daines, envoy Gor in New Delhi

Commerce Minister Piyush Goyal meets US officials as India eyes a bilateral trade deal. Talks aim to boost trade to $500 billion by 2030.

"It's very near. That will happen as long as both sides are ready - Rajesh Agrawal"

New Delhi, January 19

Commerce Minister Piyush Goyal met US Senator Steve Daines and the US Ambassador to India Sergio Gor, and had a "productive exchange" of views on the bilateral relationship front.

"Delighted to again meet my good friends US Senator @SteveDaines and the US Ambassador to India @SergioGor. Had a productive exchange of views on our bilateral relationship," Piyush Goyal posted on X.

External Affairs Minister S Jaishankar had on Sunday also met US Senator Steve Daines, who is currently on a visit to India. They had a wide ranging and open discussion on the bilateral relationship and its strategic significance.

Last week, Indian envoy in US, Vinay Kwatra, also met Senator Daines and discussed the bilateral relationship.

These meetings come amid India and US' talks for a Bilateral Trade Agreement.

India is currently being subjected to US tariffs of 50 per cent, even as it has been in talks with Washington since February last year, following Prime Minister Narendra Modi's visit to the US capital.

India's Commerce Secretary Rajesh Agrawal asserted last Thursday that the much-anticipated first tranche of India-US BTA is "very near" but stopped short of putting out a timeline.

"There are engagements going on, and negotiating teams are talking virtually on issues which are still pending. But we can't put a deadline. It's very near. That will happen as long as both sides are ready, they feel it is the right time to announce," he told reporters.

India and the US were initially aiming to complete the first tranche of an India-US bilateral trade agreement by fall of 2025, but new developments in the US trade policy landscape, that include tariffs, have altered those plans.

The BTA, formally proposed in February following directives from the leadership of both nations, seeks to more than double bilateral trade, from the current USD 191 billion to USD 500 billion by 2030. Talks were first announced during Prime Minister Narendra Modi's visit to Washington in February 2025.

US Commerce Secretary Howard Lutnick had recently claimed that the trade deal between India and the United States did not happen as Prime Minister Narendra Modi did not place a call to Donald Trump.

Soon after, the Ministry of External Affairs said it had been close to a trade deal with the United States on several occasions, and the characterisation by the US Commerce Secretary Howard Lutnick about it was "not accurate." "On several occasions, we have been close to a deal. The characterization of these discussions, the reported remarks, is not accurate," MEA Spokesperson Randhir Jaiswal said.

India is actively negotiating trade agreements with several countries, including the US, in a bid to expand trade and secure long-term growth opportunities.

- ANI

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Reader Comments

S
Sarah B
The 50% tariffs are a major hurdle. While dialogue is positive, our negotiators must ensure any deal is truly reciprocal and benefits our farmers and MSMEs, not just large corporations. "Very near" has been the status for a while now.
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Priya S
It's a bit frustrating to read about the US official blaming our PM for not calling. Trade deals should be based on mutual benefit and detailed negotiation, not phone calls. Glad MEA clarified the record.
R
Rohit P
Doubling trade is a great vision. But with US politics being so unpredictable, we should also aggressively pursue agreements with other partners in Europe, Middle East, and Africa. Don't put all eggs in one basket.
K
Karthik V
Hope the deal includes easier visas for our IT professionals and students. That's a core issue for many middle-class families. The strategic partnership is important, but people-to-people ties are its foundation.
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Nisha Z
Productive meetings are fine, but we need results. Our exports are suffering under those tariffs. The government must ensure any agreement protects our domestic industries and doesn't just open our markets for US goods.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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