'Going on very well': Piyush Goyal gives update on India-US trade deal talks; cites 'many sensitive, serious issues'

India-US trade deal: Union Commerce Minister Piyush Goyal on Wednesday gave an update on the ongoing India-US trade talks amid persisting tensions, as India deals with 50% tariffs.

The union minister indicated that while discussions on the India-US Bilateral Trade Agreement (BTA) are “going on very well,” there remain “many sensitive and serious issues” that will require additional time.



“Talks are going on very well. There are many sensitive and serious issues, so naturally, it takes some time,” Minister Goyal told ANI when asked for an update on the trade talks.

Piyush Goyal's statement comes just hours after White House gave a similar update claiming progress in talks. The White House on Tuesday reiterated that US President Donald Trump continues to prioritise strengthening relations with India and is in frequent contact with Prime Minister Narendra Modi, even as differences persist over trade tariffs and Russian oil imports.

At a press briefing, White House Press Secretary Karoline Leavitt said, “The President is positive and feels very strongly about the India-US relationship. A few weeks ago, he spoke to the Prime Minister directly when he celebrated Diwali in the Oval Office with many high-ranking Indian-American officials here at the White House.”

Leavitt added that the US has “a great Ambassador to India, Sergio Gor,” and confirmed that Trump’s trade team is in “very serious discussions” with New Delhi. “I know the President has great respect for Prime Minister Modi and they speak pretty frequently,” she said.

Her remarks came days after Trump praised India for reducing its purchase of Russian oil, describing New Delhi as “very good” on the issue during his five-day Asia tour. Since mid-October, Trump has repeatedly noted that PM Modi assured him India would limit or stop crude imports from Moscow, reflecting the US administration’s ongoing efforts to economically isolate Russia amid the Ukraine conflict. India has not confirmed any such measures.

This also comes in backdrop of a government official recently stating that India and the US were approaching finalisation of the initial portion of the comprehensive BTA. The official confirmed that negotiators are reaching consensus on numerous points and are finalising the agreement’s precise terminology. “The discussions are advancing satisfactorily without encountering fresh obstacles, and both sides maintain optimism regarding the timeline,” the official added, quoted by ANI.

On October 23, representatives from both nations held virtual consultations. Since March, five rounds of discussions have taken place regarding the agreement’s first phase, which was initially scheduled for completion by the “fall of 2025.”

The bilateral trade agreement, formally introduced in February following leadership directives, seeks to increase trade volumes from USD 191 billion to USD 500 billion by 2030.

Piyush Goyal visited the United States in September, leading major trade negotiations to establish a comprehensive bilateral agreement. He was supported by senior ministry officials, including Special Secretary and Chief Negotiator Rajesh Agrawal.

In mid-September, US officials led by Brendan Lynch, Assistant US Trade Representative for South and Central Asia, held constructive discussions with India’s Department of Commerce in New Delhi, agreeing to accelerate efforts toward a mutually advantageous trade agreement.

India and the US have been consistently negotiating the interim trade agreement in recent months. Earlier, US President Donald Trump implemented 25 per cent tariffs on Indian goods from August 1, despite expectations that an interim agreement would prevent such measures. He subsequently added another 25 per cent, totalling 50 per cent, citing India’s Russian oil purchases. The 50 per cent tariffs became effective on August 27.