Piyush Goyal In US Negotiations Underway To Advance Bilateral Trade Agreement

(MENAFN- Live Mint) New Delhi [India], September 24 (ANI): Commerce and Industry Minister Piyush Goyal is currently in the United States leading high-level trade negotiations as both nations work toward concluding a comprehensive bilateral trade agreement, a government official confirmed Wednesday.

Goyal, accompanied by a delegation of senior ministry officials including Special Secretary and India's Chief Negotiator Rajesh Agrawal, is engaged in discussions covering both trade and non-trade issues with American counterparts.

The ministerial team is expected to return to India by the end of this week.

The current visit follows productive day-long talks held in New Delhi on September 16 between US Chief Negotiator Brendan Lynch and Agrawal.

The Commerce Ministry described those discussions as "positive," with both sides agreeing to accelerate efforts toward an "early and mutually beneficial conclusion" of the proposed trade pact.

The negotiations take place against a backdrop of increased trade tensions, with the US recently imposing a 25 percent tariff plus an additional 25 percent penalty on Indian goods entering the American market -- a measure linked to India's continued purchases of Russian crude oil.

The bilateral trade agreement, formally launched in February following directives from leaders of both countries, aims to more than double trade volumes from the current USD 191 billion to USD 500 billion by 2030.

Officials had initially targeted completion of the first phase by fall 2025, with five rounds of negotiations already conducted.

This marks Goyal's second major trade mission to Washington this year, following his May visit where he held extensive discussions with US Commerce Secretary Howard Lutnick. The minister's current trip represents the first high-level US-India trade engagement since the controversial tariff measures were implemented.

Government officials indicated that talks are progressing on multiple fronts simultaneously, suggesting both nations remain committed to advancing the strategic economic partnership despite recent trade friction. (ANI)

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