India-US trade talks likely to be finalised by Nov, says Piyush Goyal; US team to visit India this month

The wheels of the trade talk between India and the US are moving along, as confirmed by both Prime Minister Narendra Modi and President Donald Trump. Commerce and Industry Minister Piyush Goyal also, during an event, said the trade pact should be finalised by November.

"In February 2025, PM Modi and President Trump together instructed us that the ministers of both sides should make a good agreement by November 2025. The first part of that agreement, the first tranche, should be finalised by November 2025, and since March, discussions have been going on on this subject very seriously in a very good environment, progress is being made,” said Goyal, adding that both sides are satisfied with the progress.

Meanwhile, a team of negotiators from the US would visit India by month-end, before signing the bilateral trade agreement (BTA) by November.

India's main negotiator, Rajesh Malhotra, is working on different parameters of the trade deal.

Goyal had reiterated the same on Wednesday during an event organised by Federation of Indian Chambers of Commerce & Industry (FICCI). He said India is in active discussions with the US as well as New Zealand for potential trade pacts.

India already has finalised trade agreements with various countries, including Mauritius, the EFTA bloc, the UK, UAE, and Australia, he said. The second phase of the trade agreement with Australia is expected to be completed soon, while talks are underway with Oman and other nations.

Before that on Tuesday, Trump said India and the US are continuing the trade talks and that he looks forward to speaking with his “very dear friend” PM Modi. PM Modi also responded to Trump’s post and said India and the US are “natural partners and teams from both sides are working to conclude negotiations”.