September 11th 2025.
The Minister of Commerce and Industry, Piysuh Goyal, announced on Thursday that the negotiations between India and the US regarding the proposed trade agreement have been making good progress since they began in March. Goyal stated that both countries are satisfied with the positive atmosphere in which discussions have been taking place, and expressed optimism for the future.
Back in February, Prime Minister Narendra Modi and US President Donald Trump had directed their respective trade ministers to reach a conclusion on the first phase of the bilateral trade agreement by fall 2025. Since then, there have been several rounds of talks that have been carried out with a sense of seriousness and commitment from both sides. Goyal informed reporters that the negotiations are on track and both countries are content with the progress made so far.
In a separate statement, Goyal also mentioned that India is actively engaging in talks with the US for a trade agreement. These comments come in response to Trump's recent declaration that he doesn't foresee any obstacles in reaching a successful agreement. He also expressed his eagerness to speak with his dear friend, Prime Minister Modi, in the coming weeks. Trump shared his thoughts on the ongoing negotiations in a post on Truth Social, where he announced that the two countries are working together to address trade barriers.
Modi responded warmly to Trump's positive assessment of the trade talks, stating that he is confident that the negotiations will pave the way for a stronger partnership between the two countries. He emphasized that India and the US are close friends and natural partners, and efforts are being made to conclude the discussions at the earliest.
These trade talks, which began in March, aim to increase bilateral trade in goods and services to USD 500 billion by 2030 from the current USD 191 billion. However, the high tariffs imposed by the US have strained trade relations between the two countries. In response to the additional 25 per cent tariff on Indian goods for purchasing Russian crude oil, the US team deferred their visit to India for the sixth round of negotiations that was scheduled for last month.
The Indian government has repeatedly stated that these tariffs are unjustified and unreasonable, and they have yet to finalize new dates for the sixth round of talks. One of the main points of contention is the US's demand for greater market access in politically sensitive areas such as the agricultural and dairy sectors, which India cannot agree to as it would negatively impact small and marginal farmers.
Goyal also addressed the ongoing protests in Nepal, stating that the government is closely monitoring the situation and taking steps to bring back Indian citizens who are stranded in the neighboring country. He assured that the Indian mission in Nepal is ready to provide support to those affected and expressed hope for a peaceful resolution soon.
In conclusion, the US is India's largest trading partner, and the bilateral trade in goods stood at USD 131.8 billion in 2024-25. Additionally, America is the third-largest investor in India, with USD 76.26 billion FDI being recorded between April 2000 and June 2025. The Indian government remains committed to protecting the interests of its farmers and cattle rearers and is working towards a fair and mutually beneficial trade agreement with the US.
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