NEW DELHI: India’s trade minister Piyush Goyal will lead a trade delegation to the United States starting May 16 to advance trade negotiations, two government officials said on Tuesday, as both countries push for a bilateral trade pact.
Goyal’s visit follows U.S. Vice President JD Vance’s trip to New Delhi last month and amid renewed efforts to secure a deal aimed at avoiding U.S. tariffs and to court President Donald Trump’s administration.
India’s trade ministry did not immediately respond to an e-mailed request for comment.
New Delhi is seeking to clinch a trade deal with the U.S. within the 90-day pause on tariff hikes announced by Trump on April 9 for major trading partners, including a 26% tariff on India.
A 10% base tariff continues to apply to India and many other nations during the pause.
The United States is India’s largest trading partner, with bilateral trade totalling some $129 billion in 2024. The trade balance is currently in favour of India, which runs a $45.7 billion surplus with the U.S.
Trade talks with US ‘progressing well’, says India’s trade minister
India’s chief negotiator for the bilateral trade talks with the U.S., Rajesh Agrawal, will also accompany the minister along with other senior officials, one of the government officials said.
The sources spoke on the condition of anonymity as they were not authorised to speak to the media.
During Prime Minister Narendra Modi’s visit to the U.S. in February, both nations agreed to work on the first segment of a trade deal by the fall of 2025, aiming for bilateral trade worth $500 billion by 2030.
Comments
Comments are closed for this article.