India-US Trade Talks Gain Momentum; Goyal to Visit Washington Soon

India and the United States have revived negotiations on a long-discussed bilateral trade deal, with Commerce Minister Piyush Goyal expected to travel to Washington in the coming days. The move follows recent talks in New Delhi between US Chief Negotiator Brendan Lynch and Indian counterpart Rajesh Agrawal, which officials described as “productive.”

What’s at stake

The negotiations come against the backdrop of the US imposing a 50% tariff on Indian goods, tied partly to New Delhi’s oil trade with Russia. Despite the pressure, both governments signaled a willingness to find common ground. Prime Minister Narendra Modi and President Donald Trump have exchanged conciliatory messages, easing tensions and opening the door to renewed discussions.

Progress so far

• Officials held a seven-hour meeting last week in New Delhi, calling it constructive.

• Both sides agreed to accelerate talks for an “early conclusion of a mutually beneficial trade agreement.”

• This would be Goyal’s second visit to Washington this year, after earlier discussions with US Commerce Secretary Howard Lutnick.

Broader context

The US has been India’s largest trading partner for four consecutive years, with $191 billion in two-way trade in 2024–25. Officials have set an ambitious target to reach $500 billion by 2030.

Analysts note that while momentum has returned, challenges remain — particularly over tariffs, market access, and regulatory standards. “Talks are moving positively,” Goyal said, adding that the US remains a “trusted partner” despite differences.

The bigger picture

The outcome of these talks will be closely watched by businesses on both sides, as the agreement could reshape trade flows, reduce friction, and strengthen strategic ties between the world’s two largest democracies.