Union Commerce and Industry Minister Piyush Goyal has confirmed that India is actively negotiating a bilateral trade agreement (BTA) with the United States, despite recent tensions stemming from tariff hikes imposed by Washington. Speaking at an industry chamber event on sustainability in New Delhi, Goyal stated, “We are in dialogue with the US for a BTA,” signaling India’s continued commitment to expanding its global trade partnerships.
Negotiations between the two nations began in March 2025 and have so far completed five rounds. However, the sixth round of talks, originally scheduled for August 25, was deferred after the US imposed a steep 50% tariff on a wide range of Indian exports starting August 27. The punitive duties have affected key sectors including textiles, apparel, carpets, and gems and jewellery.
Goyal emphasized that the Indian government is preparing a series of support measures to mitigate the impact of these tariffs and strengthen the country’s export resilience. India exported goods worth $437 billion in FY25, with $149 billion recorded between April and July of the current fiscal year.
The minister also reiterated India’s broader strategy of expanding its network of Free Trade Agreements (FTAs) with developed economies. Recent deals have been concluded with the UK, UAE, and the EFTA bloc, while negotiations are ongoing with the European Union, Australia, and several other nations.
Despite the setback in talks with the US, Goyal expressed optimism about resolving trade tensions and achieving a mutually beneficial agreement. He underscored India’s position as a key driver of global growth and reaffirmed the country’s commitment to fair and equitable trade practices.
The outcome of the India-US trade negotiations is expected to have significant implications for both economies, particularly in the context of shifting geopolitical dynamics and evolving global supply chains.
