Commerce and industry minister Piyush Goyal will lead a delegation to the US on September 22 to accelerate talks on a long-pending trade deal, an official statement said on Saturday, following recent progress in negotiations that resumed last week.
“The delegation plans to take forward the discussions with a view to achieve early conclusion of a mutually beneficial trade agreement,” the commerce ministry statement said.
People aware of the matter said that the team will include special secretary and chief negotiator Rajesh Agrawal and it will also visit New York to hold discussions with American officials.
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The visit follows daylong discussions on Wednesday between US chief negotiator Brendan Lynch and his Indian counterpart, Agrawal, on the proposed Bilateral Trade Agreement (BTA) in New Delhi. The commerce ministry, following the meeting, stated that discussions with the American team were positive, with both sides agreeing to push for an early and mutually beneficial conclusion of the agreement.
The talks were the first high-ranking US trade visit since the sixth round of negotiations scheduled for August 25 in New Delhi was postponed following the tariff escalation. The US had imposed a 25% reciprocal tariff that took effect on August 7, followed by an additional 25% levy as a penalty for Russian oil purchases that kicked in on August 27, bringing the total rate to 50%. India had also resisted US demands to open the farm and dairy markets, which also put a spanner in the talks.
{{/usCountry}}The talks were the first high-ranking US trade visit since the sixth round of negotiations scheduled for August 25 in New Delhi was postponed following the tariff escalation. The US had imposed a 25% reciprocal tariff that took effect on August 7, followed by an additional 25% levy as a penalty for Russian oil purchases that kicked in on August 27, bringing the total rate to 50%. India had also resisted US demands to open the farm and dairy markets, which also put a spanner in the talks.
{{/usCountry}}While August marked a sharp escalation in the rhetoric from Washington, there has since been a stark diplomatic turnaround in recent weeks. Last week, Trump’s nominee for ambassador to India, Sergio Gor, told senators that negotiations had reached the “nitty gritty” stage and could be resolved within weeks, describing the Trump-Modi relationship as “incredible” and unique.
Goyal earlier visited Washington in May and held deliberations with US Commerce Secretary Howard Lutnick as part of the high-stakes trade talks.