(MENAFN- IANS) New Delhi, Nov 27 (IANS) Commerce Secretary Rajesh Agrawal will appear before the Parliamentary Standing Committee on Commerce on Thursday to share updates on the ongoing India–US trade negotiations, as discussions on a bilateral trade agreement gain momentum.

The meeting is scheduled for 2:30 PM at the Parliament Annexe, where the panel will review the“Assessment of India–United States Trade Relations” based on inputs from the senior official, according to sources.

The briefing comes at a crucial time, as India and the United States are moving closer to signing the first tranche of the proposed Bilateral Trade Agreement (BTA).

Earlier this month, Agrawal had indicated that both sides were“nearing closure” on the initial stage of talks.

He said that negotiations have been progressing swiftly through regular virtual rounds, although no fixed timeline has been set for the agreement.

Positive signals from Washington have further boosted expectations. US President Donald Trump recently reiterated his intent to strengthen ties with India, noting that his discussions with Prime Minister Narendra Modi were“going great”.

He also hinted at lowering tariffs on India“at some point”, suggesting that a breakthrough in the talks may not be far away.

At a separate event, Trump had said that both countries were“pretty close to doing a deal” that would benefit all sides, fuelling optimism around the potential signing of the BTA.

His comments came during the oath ceremony of Sergio Gor, the new US Ambassador to India.

Back home, Commerce Minister Piyush Goyal has made it clear that while India is keen on a fair and balanced trade deal, it will not compromise on key domestic interests, including farmers, the dairy sector and workers.

He emphasised that the government is preparing for all scenarios, noting that the timing of the agreement depends on mutual readiness.

India has already taken steps to reduce its trade surplus with the US by expanding energy imports.

Petroleum Minister Hardeep Singh Puri recently announced a significant development -- a one-year structured contract to import around 2.2 million tonnes per annum of LPG from the US Gulf Coast during 2026.

The deal accounts for nearly 10 per cent of India's annual LPG imports and marks the country's first such structured agreement with the US.

MENAFN27112025000231011071ID1110403923