NEW DELHI: India is not rushing for the trade deal with the US and both are exploring a win-win situation, however there are no major differences between the two countries and progresses are happening during the discussions, say sources from India's Commerce Ministry.
A team of Indian delegates from the Ministry of Commerce headed by the Commerce Secretary, Rajesh Agarwal visited Washington last week regarding the trade negotiations discussions.
"There are no major differences between India and the US in terms of trade negotiations. During every discussion there is some progress made, " said the source.
In February this year, leaders of India and the US directed officials to negotiate a proposed Bilateral Trade Agreement (BTA).They have fixed a deadline to conclude the first tranche of the pact by the fall (October-November) of 2025. So far, five rounds of negotiations have been completed. Last month, Goyal led an official delegation to New York for trade talks.
The proposed trade agreement between India and the US aims to more than double the bilateral trade to $500 billion by 2030.
The US has remained India's largest trading partner for the fourth consecutive year in 2024-25. According to the commerce ministry data, goods exports to the US fell by more than 20 percent to $5.43 billion in September from $6.87 billion in August, with tariffs impacting the shipments of items like carpets textiles, shrimp, and gems and jewellery.
However, the total export to the US between April and September 2025 went up by more than 13 percent as compared to the same period in previous year. In the first six months, the total value of exports to the US stood at $45.82 billion this year, while it was $40.42 billion in 2024.
While the discussions with the US is on, Commerce Minister Piyush Goyal will also be visiting Berlin and Munich after Diwali for Berlin dialogue and proceed with the next round of talks with the European Union regarding Free trade agreements.
