News Brief
Piyush Goyal To Lead Indian Delegation To Washington For Bilateral Trade Agreement Talks
Commerce Minister Piyush Goyal (Pic Via Twitter)
Commerce and Industry Minister Piyush Goyal will travel to Washington on 16 May for four days of high-level talks with American officials to advance discussions on a proposed Bilateral Trade Agreement (BTA) between India and the United States, a senior official confirmed on Tuesday (13 May).
During the visit, Goyal is scheduled to meet US Trade Representative (USTR) Jamieson Greer and US Commerce Secretary Howard Lutnick, PTI reported.
The discussions are aimed at securing “early mutual wins” through an interim trade arrangement focused on goods, with both nations eyeing a first-phase agreement by September–October this year.
The talks take place amid a temporary easing of trade tensions. The United States suspended an additional 26 per cent tariff on Indian goods until 9 July, part of a 90 day pause aimed at narrowing the widening trade deficit. However, a 10 per cent baseline tariff remains in effect.
To prepare for this round, India’s Chief BTA Negotiator Rajesh Agrawal and Assistant USTR for South and Central Asia Brendan Lynch held detailed talks in Washington last month. Goyal himself met both Greer and Lutnick during a bilateral session in March.
In contrast, the US is seeking relief on industrial goods, electric vehicles, wines, petrochemicals, dairy, apples, and tree nuts.
The terms of reference (ToRs) for the BTA have been finalised, comprising 19 chapters including tariffs, services, rules of origin, customs facilitation, and non-tariff barriers.
The US remained India’s largest trading partner for the fourth consecutive year in 2024-25, with bilateral trade valued at $131.84 billion. India posted a trade surplus of $41.18 billion in goods during the same period.
However, Washington has expressed concern over “non-tariff barriers” affecting American exports to Indian markets, and the growing trade imbalance.
