Indian team back from US after holding trade talks, Piyush Goyal to be back tomorrow: Report
Union Minister Piyush Goyal was accompanied by senior officials from the Indian Ministry of Commerce, including Special Secretary Rajesh Agrawal, who is also India’s chief negotiator for the bilateral trade agreement (BTA).
- Sep 25, 2025,
- Updated Sep 25, 2025 9:59 PM IST
The Indian team has returned from the US after holding trade talks with their American counterparts in New York. Commerce and Industry Minister Piyush Goyal, who led the team, will be back on September 26. The team had arrived in New York on Monday to hold discussions over the proposed trade agreement between the two countries.
The trade talks between India and the US have been ongoing at multiple levels, addressing both trade and non-trade issues to foster a comprehensive and mutually beneficial relationship. These discussions were aimed at breaking new ground in several areas, including trade tariffs, market access, technology, services, and intellectual property rights.
Minister Piyush Goyal was accompanied by senior officials from the Indian Ministry of Commerce, including Special Secretary Rajesh Agrawal, who is also India’s chief negotiator for the bilateral trade agreement (BTA). The official delegation engaged in extensive talks, laying the groundwork for key elements of the agreement, which is expected to boost trade relations significantly.
“The Indian official team is back from the US,” an official said, signaling the successful completion of these high-level discussions. Goyal’s visit follows up on the recent meeting in New Delhi between US Chief Negotiator Brendan Lynch and Rajesh Agrawal, where both sides expressed a positive outlook on the bilateral trade agreement. The discussions in New York were a continuation of these exchanges, marking a significant step toward resolving long-standing trade concerns.
The bilateral talks have also focused on tackling some recent challenges in the trade landscape. One of the most notable issues has been the imposition of a 25% tariff and an additional 25% penalty on Indian goods entering the US market due to India's purchases of Russian crude oil. This development has been a key point of contention, with India seeking to mitigate its impact as part of the ongoing discussions.
The recent hike in application fees for H-1B visas by the US, now set at $100,000, has also been a point of concern. The decision is expected to significantly affect India's technology services sector, particularly disrupting business continuity for onshore projects that might require “adjustments” in operations. Nasscom, the industry body representing the Indian IT sector, has expressed concern that these changes could limit the flexibility of Indian companies in meeting US demand.
In February, during a visit by Indian leaders to Washington, both countries agreed to direct officials to negotiate the proposed BTA, with an ambitious target to conclude the first phase of the pact by the fall of 2025. As of now, five rounds of negotiations have been completed, with discussions covering a broad spectrum of issues from tariff reduction to expanded market access in the sectors of agriculture, pharmaceuticals, and digital services.
The overarching goal of the BTA is to more than double bilateral trade to $500 billion by 2030, from the current figure of $191 billion. The agreement, once finalized, is expected to serve as a cornerstone for the growing trade relations between the two countries, particularly as the US has remained India’s largest trading partner for the fourth consecutive year in 2024-25. Bilateral trade between the two countries stood at $131.84 billion last year, with India's exports valued at $86.5 billion. The US accounts for approximately 18% of India’s total goods exports, 6.22% of imports, and 10.73% of India's total merchandise trade.
(With inputs from PTI)
The Indian team has returned from the US after holding trade talks with their American counterparts in New York. Commerce and Industry Minister Piyush Goyal, who led the team, will be back on September 26. The team had arrived in New York on Monday to hold discussions over the proposed trade agreement between the two countries.
The trade talks between India and the US have been ongoing at multiple levels, addressing both trade and non-trade issues to foster a comprehensive and mutually beneficial relationship. These discussions were aimed at breaking new ground in several areas, including trade tariffs, market access, technology, services, and intellectual property rights.
Minister Piyush Goyal was accompanied by senior officials from the Indian Ministry of Commerce, including Special Secretary Rajesh Agrawal, who is also India’s chief negotiator for the bilateral trade agreement (BTA). The official delegation engaged in extensive talks, laying the groundwork for key elements of the agreement, which is expected to boost trade relations significantly.
“The Indian official team is back from the US,” an official said, signaling the successful completion of these high-level discussions. Goyal’s visit follows up on the recent meeting in New Delhi between US Chief Negotiator Brendan Lynch and Rajesh Agrawal, where both sides expressed a positive outlook on the bilateral trade agreement. The discussions in New York were a continuation of these exchanges, marking a significant step toward resolving long-standing trade concerns.
The bilateral talks have also focused on tackling some recent challenges in the trade landscape. One of the most notable issues has been the imposition of a 25% tariff and an additional 25% penalty on Indian goods entering the US market due to India's purchases of Russian crude oil. This development has been a key point of contention, with India seeking to mitigate its impact as part of the ongoing discussions.
The recent hike in application fees for H-1B visas by the US, now set at $100,000, has also been a point of concern. The decision is expected to significantly affect India's technology services sector, particularly disrupting business continuity for onshore projects that might require “adjustments” in operations. Nasscom, the industry body representing the Indian IT sector, has expressed concern that these changes could limit the flexibility of Indian companies in meeting US demand.
In February, during a visit by Indian leaders to Washington, both countries agreed to direct officials to negotiate the proposed BTA, with an ambitious target to conclude the first phase of the pact by the fall of 2025. As of now, five rounds of negotiations have been completed, with discussions covering a broad spectrum of issues from tariff reduction to expanded market access in the sectors of agriculture, pharmaceuticals, and digital services.
The overarching goal of the BTA is to more than double bilateral trade to $500 billion by 2030, from the current figure of $191 billion. The agreement, once finalized, is expected to serve as a cornerstone for the growing trade relations between the two countries, particularly as the US has remained India’s largest trading partner for the fourth consecutive year in 2024-25. Bilateral trade between the two countries stood at $131.84 billion last year, with India's exports valued at $86.5 billion. The US accounts for approximately 18% of India’s total goods exports, 6.22% of imports, and 10.73% of India's total merchandise trade.
(With inputs from PTI)