By Bl New Delhi

Copyright thehindubusinessline

India and the US discussed possible contours of the proposed bilateral trade deal this week and decided to be engaged to achieve early conclusion of mutually beneficial trade agreement, per a statement from the Commerce Department.

Commerce & Industry Minister Piyush Goyal led a trade delegation to the US from September 22-24 where he had meetings with US Trade Representative Jamieson Greer and US Ambassador designate Sergio Gor.

“The delegation had constructive meetings with the U.S. Government on various aspects of the deal. Both sides exchanged views on possible contours of the deal, and it was decided to continue the engagements with a view to achieve early conclusion of a mutually beneficial trade agreement,” the statement issued on Friday noted.

External Affairs Minister S Jaishankar and US Secretary of State Marco Rubio were also part of the talks in which Goyal and Greer participated on September 22, according to MEA Spokesperson Randhir Jaiswal. Several officials were also present in the discussions which focussed on trade and tariff, he said. Other aspects were also discussed.

The trade delegation returned to New Delhi after the meetings but there is no announcement yet on the date for the sixth round of formal negotiations for the BTA.

Both India and the US are trying to fast track the negotiations to meet the October-November deadline, set by US President Donald Trump and Prime Minister Narendra Modi in February this year, to complete the first tranche of the proposed BTA.

But the 50 per cent import duties imposed on India by the US, which include a 25 per cent penalty for purchasing Russian oil, are proving to be a problem. Washington doesn’t want to lower tariffs till the issue of Russian oil is settled.

However, India argues that its purchase of oil from Russia is not illegal and Western nations, too, were continuing to trade with Moscow.

Apart from meetings with the US government representatives on bilateral trade matters, the trade delegation held discussions with key US based businesses and investors on promoting trade and investment between the two countries.

“The meetings with businesses and investors evoked positive response. The business leaders reposed confidence in the India growth story and expressed their desire to intensify their business activities in India,” the statement pointed out.

Published on September 26, 2025