New Delhi: Union Commerce and Industry Minister Piyush Goyal said on Saturday that negotiations for a bilateral trade deal between India and the United States are progressing positively but emphasized that no agreement will be signed without fully protecting India’s national interests.
Speaking to reporters, Goyal remarked, “The talks are progressing in a very cordial atmosphere. Free trade agreements are never bound by deadlines. There will be no agreement unless we fully address the interests of the nation — India’s farmers, fishermen, and MSMEs. The talks are ongoing and we’ll inform you when we reach a decision.”
His comments came amid renewed tensions between New Delhi and Washington following the US imposition of steep 50% tariffs on Indian goods, along with a 25% levy linked to the purchase of Russian oil. India has termed these duties “unfair, unjustified, and unreasonable.”
⚖️ Trade Talks Face Headwinds
Bilateral ties have faced strain in recent months after US President Donald Trump accused India of indirectly funding Russia’s war in Ukraine, calling the country a “laundromat for the Kremlin.” Despite these differences, recent high-level communications — including a phone call between Prime Minister Narendra Modi and President Trump — have revived optimism about a breakthrough in trade negotiations.
Officials from both sides, including Assistant US Trade Representative Brendan Lynch, met Indian counterparts in New Delhi on September 16, agreeing to push for an “early and mutually beneficial conclusion” of the long-pending trade pact.
The proposed agreement aims to double bilateral trade to USD 500 billion by 2030 from the current level of around USD 191 billion.
🌐 India–US Trade Snapshot (2024–25)
- The US remained India’s largest trading partner for the fourth consecutive year.
- Bilateral trade value: USD 131.84 billion
- Indian exports: USD 86.5 billion (≈ 18% of total exports)
- Imports from the US: USD 3.98 billion (+11.78% YoY)
- India’s exports to the US: Down 11.93% in September 2025 due to high tariffs
🛢️ Energy Dispute and US Pressure
Meanwhile, President Trump reiterated that India would cease oil imports from Russia, claiming New Delhi had “more or less stopped” purchasing crude from Moscow. India, however, stated it is diversifying its energy sources to align with market conditions rather than bowing to external pressure.
Trump said, “India has already de-escalated and they’re pulling back. They won’t be buying oil from Russia anymore.”
As trade negotiations continue, India maintains that strategic autonomy and economic sovereignty will remain at the core of any agreement with the United States.
Originally published on newsworldstime.com.
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