NEW DELHI– India is back in discussions with the United States on a bilateral trade agreement, Commerce and Industry Minister Piyush Goyal said Tuesday, even as tensions rise over New Delhi’s continued purchases of Russian oil.
“We are in dialogue with the U.S. for a bilateral trade agreement,” Goyal told an industry gathering in the capital, noting that recent tariffs imposed by Washington have complicated negotiations. President Donald Trump’s administration levied a 50 percent tariff on Indian goods, including a 25 percent penalty tied to energy imports from Russia.
Talks for a bilateral trade agreement (BTA) have stalled in recent months. The sixth round of negotiations, scheduled for August 25 in New Delhi, was canceled after the U.S. delegation pulled out. India is now pressing to restart the process.
Goyal said India’s approach to trade agreements remains rooted in protecting domestic interests. “When we do trade deals, I have to protect national interests,” he said. “We now work with different countries on the understanding that you respect my sensitivities, I respect yours. Every country has areas of concern.”
He also underlined the importance of Washington to New Delhi. “Our relations with the U.S. are very consequential,” Goyal said, adding that India’s growing economic strength makes it a key partner in global trade.
Meanwhile, U.S. Treasury Secretary Scott Bessent struck an optimistic tone in remarks to Fox Business. “I think at the end of the day, two great countries will get this solved,” Bessent said. He called India the world’s most populous democracy, emphasizing its values as closer to the U.S. than to Russia.
The renewed push for talks comes as India balances its strategic ties with Washington against the backdrop of energy deals with Moscow and ongoing trade friction with the U.S. (Source: IANS)
