India’s Commerce Minister Piyush Goyal: India, U.S. talks are on for trade pact

India and the U.S. desire to give preferential market access to each other’s businesses, and teams of both the countries are working together on the proposed bilateral trade agreement, Commerce Minister Piyush Goyal has said. When asked about an announcement of Mr. Trump to double tariffs on steel and aluminium to 50%, he also said that the two countries will continue to work together to resolve all these issues bilaterally

In February, U.S. President Donald J. Trump and Prime Minister of India Narendra Modi announced plans to negotiate the first tranche or phase of a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) by fall (September-October) of 2025. It is aimed at more than doubling the bilateral trade to $500 billion by 2030 from the current level of $191 billion.