By Tionspiyush Goyal
Copyright indiatimes
Commerce and Industry Minister Piyush Goyal will lead an official delegation to the US for trade talks on September 22, an official statement said on Saturday.The delegation plans to hold talks with US team to take forward discussions with a view to achieve early conclusion of a mutually beneficial trade agreement, it said.The minister will visit New York and will be accompanied by special secretary in the ministry Rajesh Agrawal and other officials.During the last visit of the team of officials from the office of United States Trade Representative to India on September 16, positive discussions were held on various aspects of the trade deal, and it was decided to intensify efforts in this regard.”In continuation of these discussions, a delegation led by Commerce and Industries Minister is visiting the United States for meetings with the US side on 22nd September 2025,” it said.Live EventsThe visit assumes additional significance amid the US administration’s sudden decision to hike the application fee for H-1B visas to USD 1,00,000. Industry body Nasscom on Saturday said the US’ move will impact India’s technology services companies as business continuity will be disrupted for onshore projects that may require “adjustments”.Further, the visit comes in the backdrop of recently concluded daylong discussions here between US Chief Negotiator Brendan Lynch and his Indian counterpart Rajesh Agrawal on the proposed bilateral trade agreement.On September 16, the commerce ministry stated that daylong discussions with the visiting US team on a bilateral trade deal were positive, and both sides agreed to push for an early and mutually beneficial conclusion of the agreement.”It was decided to intensify efforts to achieve early conclusion of a mutually beneficial trade agreement,” the ministry had said after a seven-hour meeting with US officials.The talks were important as the US has imposed a steep 50 per cent tariff on Indian goods.The visit of the high-ranking US trade officials was first after the imposition of a 25 per cent tariff and an additional 25 per cent penalty on Indian goods entering the American market for buying Russian crude oil.In February, leaders of the two countries directed officials to negotiate a proposed Bilateral Trade Agreement (BTA).It was planned to conclude the first tranche of the pact by the fall (October-November) of 2025. So far, five rounds of negotiations have been held. The pact is aimed at more than doubling the bilateral trade to USD 500 billion by 2030 from the current USD 191 billion.Goyal visited Washington earlier in May for the trade talks. He held deliberations with US Commerce Secretary Howard Lutnick in Washington.The US remained India’s largest trading partner for the fourth consecutive year in 2024-25, with bilateral trade valued at USD 131.84 billion (USD 86.5 billion exports).The US accounts for about 18 per cent of India’s total goods exports, 6.22 per cent in imports, and 10.73 per cent in the country’s total merchandise trade.Add as a Reliable and Trusted News Source Add Now!
Goyal had on Thursday said trade talks between India and the US are progressing and are moving in the right direction.(You can now subscribe to our Economic Times WhatsApp channel)
Read More News onPiyush Goyaltrade talksmutually beneficial trade agreementcommerce ministrySeptember 22New York trade visitUS Trade RepresentativeRajesh Agrawal
(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
(You can now subscribe to our Economic Times WhatsApp channel)Read More News onPiyush Goyaltrade talksmutually beneficial trade agreementcommerce ministrySeptember 22New York trade visitUS Trade RepresentativeRajesh Agrawal(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
Prime ExclusivesInvestment IdeasStock Report PlusePaperWealth Edition123View all Stories
