India-US Trade Talks Moving Quickly in Positive Direction, Goyal Says
New Delhi — Trade negotiations between India and the United States are moving quickly and in a positive direction, Commerce Minister Piyush Goyal said Tuesday as the two countries continue discussions on a bilateral trade agreement.
Goyal said the talks were “moving fast and in a good direction” but did not disclose details of the negotiations. India and the United States have remained engaged in efforts to reach an agreement that both sides have described as intended to benefit their economies.
His comments come days after President Donald Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which expands U.S. sanctions and tariff authorities targeting Russia and countries engaged in certain trade with it.
India and China are among the largest buyers of Russian oil, raising the possibility that the legislation could affect their trade with the United States.
Goyal said Monday that India would study the details of any potential U.S. tariffs before responding.
“The details are now emerging. We will study them and discuss the matter at an appropriate time,” he said.
The legislation authorizes tariffs of up to 100% in certain circumstances, but such a tariff is not automatically imposed at that level.
India and the United States, meanwhile, continue negotiations on their bilateral trade agreement. Goyal is expected to hold talks with U.S. Trade Representative Jamieson Greer during the G20 Trade Ministerial in Milwaukee later this month.
The negotiations come as India’s merchandise trade deficit narrowed to $26.86 billion in August from $27.20 billion a year earlier. The deficit was also down from nearly $32 billion in July.
Merchandise exports rose 26.12% from a year earlier to $43.18 billion in August, while imports increased 14.1% to $72.67 billion.
Commerce Secretary Rajesh Agrawal said export growth was driven by engineering goods, petroleum products, chemicals and textiles, with strong demand from the United States, European Union and BRICS economies. (Source: IANS)
