India and the United States are currently engaged in discussions to finalize a bilateral trade agreement, Union Commerce and Industry Minister Piyush Goyal said on Monday. The talks, which have seen five rounds since March, are aimed at strengthening economic ties between the two countries but have recently been impacted by rising tariff tensions.
Addressing an industry event in Delhi, Goyal confirmed the ongoing negotiations, stating, “We are in dialogue with the US for a bilateral trade agreement.” However, the sixth round of talks, originally scheduled for late August, has been delayed following the US decision to raise tariffs on several Indian exports to 50 percent.
The tariff hike, which took effect on August 27, is widely seen as a reaction to India’s continued imports of oil from Russia amid ongoing Western sanctions.
Despite the temporary setback, officials indicate that discussions remain on track and constructive. The proposed trade agreement is expected to address a range of key issues, including tariff reductions, digital trade regulations, intellectual property rights, and greater market access for goods and services.
Goyal emphasized the importance of the US as a strategic economic partner, noting that the agreement would serve to further deepen bilateral ties and promote long-term cooperation across multiple sectors, including technology, agriculture, and pharmaceuticals.
No new dates have been confirmed for the next round of negotiations.
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