India, US holding continuous discussions for bilateral trade agreement: Goyal

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....ndia, US holding continuous discussions for bilateral trade agreement: Goyal<BR>Customs & Trade<BR>Dated:- 5-11-2025<BR>PTI<BR>Auckland, Nov 5 (PTI) Commerce and Industry Minister Piyush Goyal on Wednesday said India and the US are holding continuous discussions for the proposed bilateral trade agreement. "Talks are going well...and are continuously going on. ..kaee samvedanasheel mudde hai, kae....

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....e gambheer mudde hai, toh svaabhaavik hai ki thoda samay lagega (There are many sensitive issues, many serious issues, so it is natural that it will take some time)," he told reporters here. He was replying to a question about the progress on India-US negotiations on the pact. Goyal is here on a four-day official visit. He is leading a business delegation. Five rounds of talks have been comp....

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....leted so far for the first phase of the bilateral trade agreement between the US and India. A team of Indian officials, headed by Commerce Secretary Rajesh Agrawal, was in Washington last month to hold trade talks with their US counterparts. The three-day talks ended on October 17. In February this year, leaders of India and the US directed officials to negotiate a proposed Bilateral Trade Agr....

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....eement (BTA). They have fixed a deadline to conclude the first tranche of the pact by the fall of 2025. These deliberations are important, as relations between the two countries have been under severe strain since the US President Donald Trump administration imposed a steep 50 per cent tariff on Indian goods. It includes a 25 per cent additional import duty for buying Russian crude oil. The pr....

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....oposed pact aims to more than double the bilateral trade to USD 500 billion by 2030 from the current USD 191 billion. The US remained India's largest trading partner for the fourth consecutive year in 2024-25, with bilateral trade valued at USD 131.84 billion (USD 86.5 billion exports). It accounts for about 18 per cent of India's total goods exports, 6.22 per cent in imports, and 10.73 per cent....

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.... in the country's total merchandise trade. India's merchandise exports to the US declined by 11.93 per cent to USD 5.46 billion in September due to the high tariffs imposed by Washington, while imports increased by 11.78 per cent to USD 3.98 billion during the month, according to the Commerce Ministry data. PTI RR RR SHW<BR> News - Press release - PIB....