US-India Trade Deal: Piyush Goyal Says Both Sides 'Negotiating, Satisfied With Progress'

(MENAFN- Live Mint) India-US trade deal: Union Minister for Commerce and Industry Piyush Goyal on September 11 said that trade negotiations between India and the United States on the proposed bilateral trade agreement (BTA) are progressing to the satisfaction of both countries, PTI reported.

As per the minister, Prime Minister Narendra Modi and US President Donald Trump had in February tasked both their trade ministers to conclude the first phase of the BTA by“fall of 2025”, i.e. November this year.

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The BTA discussions began in March, and Goyal said that talks are moving in a“positive atmosphere” where both countries are“satisfied with the progress”, the report added.

“Discussions have been going on in a positive atmosphere with seriousness since March. It is progressing, and both the countries are satisfied with the progress,” Goyal told the media in Patna.

Earlier on September 10, Goyal said that India is in“active dialogue” with the US for a trade agreement, besides noting that negotiations are also on with New Zealand, the European Union, the UAE, Australia and Mauritius. The minister also informed that more FTAs with other countries are in the offing, and it will take some time.

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Goyal's optimistic statements come after Donald Trump claimed that there would be“no difficulty” for a successful trade deal between India and the US, and that he looks forward to speaking with his“very good friend” PM Modi in the coming weeks.

In a post on Truth Social on September 9, Donald Trump said he was“pleased to announce that India, and the United States of America , are continuing negotiations to address the Trade Barriers between our two Nations”.

Modi on September 10 reacted warmly to the post, expressing confidence that the ongoing negotiations will pave the way for unlocking the limitless potential of the partnership between the two nations. India and the US are close friends and natural partners, Modi has said on X, adding that both countries are working to conclude the trade discussions at the earliest.

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• India and the US have been negotiating a bilateral trade agreement since March. So far, five rounds of negotiations have been completed.
• For the sixth round, the US team, which was to visit India last month, deferred their visit after the announcement of an additional 25 per cent tariff on Indian goods for buying Russian crude oil .
• The aim of the pact is to more than double bilateral trade in goods and services to $500 billion by 2030 from the current $191 billion.
• So far, no new dates have been finalised for the sixth round of negotiations.
• The negotiations were stalled as the US is pressing for greater market access in politically sensitive areas such as agri and dairy sectors, which India cannot accept as it affects the livelihood of small and marginal farmers.
• India on multiple occasions stated that it will not compromise the interests of farmers and cattle rearers.

The US is India's largest trading partner. In 2024-25, the bilateral trade in goods stood at $131.8 billion ($86.5 billion exports and $45.3 billion imports).

America is also the third-largest investor in India, with $76.26 billion FDI coming into India during April 2000 and June 2025. America accounts for 10 per cent of the total FDI India has received during the period.

(With inputs from PTI)

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