India and the United States on Wednesday concluded a two-day round of ministerial-level negotiations on the proposed first phase of their Bilateral Trade Agreement (BTA), with both sides reviewing progress and discussing ways to finalise an interim pact before a key US tariff deadline next month.The talks were held in New Delhi between commerce and industry minister Piyush Goyal and US trade representative (USTR) Jamieson Greer.“Concluded a series of meetings with @USTradeRep Ambassador Jamieson Greer and his delegation this morning. We reviewed progress of the ongoing India–US trade discussions and explored avenues to further deepen our economic partnership,” Goyal said in a post on social media.“I appreciate Ambassador Greer’s leadership and the sustained efforts of both teams in advancing our discussions in a constructive and forward-looking manner,” he added.
Focus on interim deal before July 24
According to the commerce ministry, discussions focused on ways to conclude an interim trade pact as an important milestone towards a comprehensive Bilateral Trade Agreement.The ministry said both sides reviewed core elements of the proposed agreement, including enhanced market access, digital trade and the reduction of non-tariff barriers, as reported by PTI.The negotiations assume significance as the US-imposed temporary 10 per cent tariff on imports from all trading partners, introduced on February 24, is scheduled to expire on July 24.
Trade talks gain momentum
The latest discussions come amid renewed momentum in trade negotiations between the two countries.Greer’s visit followed a meeting between Prime Minister Narendra Modi and US President Donald Trump on the sidelines of the G7 Summit in France on June 17.The two countries had announced the framework for the first phase of the BTA in February 2025. However, subsequent changes in US tariff policy prompted both sides to revisit certain aspects of the proposed agreement.The US Embassy in India said earlier that the negotiations are aimed at advancing an interim agreement that would benefit both economies and deepen commercial ties.
Key issues under discussion
India is seeking favourable tariff treatment for its exports after changes in US trade policy reduced the advantage it expected over competing economies such as Vietnam and other Asean countries.The discussions have also covered tariff reductions on a range of US agricultural and industrial products, including tree nuts, fruits, soybean oil, wine and spirits.India has additionally proposed large-scale purchases of American goods, including energy products, aircraft, technology equipment, precious metals and coking coal over the next five years.
Trade ties remain strong
The United States remained India’s second-largest trading partner in 2025-26.India’s exports to the US rose 0.92 per cent to $87.3 billion during the fiscal year, while imports increased 15.95 per cent to $52.9 billion, narrowing India’s trade surplus to $34.4 billion from $40.89 billion a year earlier.With the July 24 tariff deadline approaching, both sides are expected to continue negotiations in an effort to conclude the interim agreement, which officials view as a stepping stone towards a broader and more comprehensive trade pact.